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Vicente Izquierdo Munoz - Discusses How Blockchain Technology is Simplifying International Transactions

MEXICO CITY, MEXICO / ACCESSWIRE / August 29, 2017 / On August 14th, 2017 much-talked about cryptocurrency Bitcoin reached a value of USD $4,400, soaring more than 125% in price this year alone; meanwhile, rival currency Ethereum stunned financial analysts by recording a 5001% rise since January 2017. While these performances are notable and have captured the attention of investors on a global scale, forex and innovative investments expert Vicente Izquierdo Munoz explains that the Blockchain technology underlying these incredible success stories is where our attention should focus, as it is the catalyst that is shaping the future of international trade.

Blockchains are essentially 'open, decentralized ledgers' that serve as a record of transactions between two entities. A key positive of this system is that it eliminates the vulnerabilities of a centralized single data storage system that may compete for membership with other similar systems. A major benefit of trading partners implementing this cloud-based technology as a tool of exchange is that the middle-man (aka the bank, credit institution or central authority) is excluded from the deal and thus millions of dollars in handling/processing fees can be saved. The cryptography used to secure these 'ledgers' is extremely robust, preventing duplication or theft as well as providing the confidence of mutual transparency for buyer-sellers. Vicente Izquierdo Munoz advises that Blockchain can not only be applied as a seamless financial instrument, but as a highly trustworthy and accessible platform for the management of public/private data. Munoz describes how forward-thinking pioneers such as IBM have already adapted the technology to manage supply chains while others such as Gem are applying it to revolutionizing healthcare infrastructure and standards.

When it comes to international trade, which has become increasingly hampered by global volatilities ranging from uncontrolled migrations and a rise in protectionist policies, the World Economic Forum looks to Blockchain as a highly effective mechanism for bolstering confidence, facilitating exchange and maximizing efficiency gains. Shipping magnates such as Maersk (90% of international trade is by sea) are already benefiting from simplified bills of lading (using Blockchain to eliminate the need for massive volumes of time-consuming inventory tracking paperwork) and trade-finance deals which once would take between seven and ten days to complete (with lengthy approval and verification processes) can now be resolved in a matter of hours. With information such as provenance, regulatory adherence and any other data of interest or relevance to a business deal all contained within transparent and immutable records, consumers and watchdogs can operate with confidence.

Following several years of speculation and analysis, 65% of global banks are expected to incorporate and develop blockchain projects within the next 3 years, with many already rolling out large-scale integration according to a study by IBM. Widespread adoption across a greater range of financial sector players and transactions is expected to carry out over a longer term, perhaps 5 to 10 years. As the technology is scaled, Munoz expects we will see a rapid and overwhelming adoption of Blockchain.

Vicente Izquierdo Munoz is the co-founder of a leading brokerage of contract for difference (CFD) trading on currencies, indexes, commodities, stocks and option. Munoz strives to offer clients global exposure and opportunities for the advancement of portfolios and knowledge exchange.

Vicente Izquierdo Munoz - Co-Founder of a Leading Brokerage of CFDs: http://vicenteizquierdomunoznews.com

Contact Information:

VicenteIzquierdoMunozNews.com

contact@vicenteizquierdomunoznews.com

http://vicenteizquierdomunoznews.com

SOURCE: Vicente Izquierdo Munoz


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