Mexico has announced the formation of its first Blockchain Association. The main objective of the association is to educate its citizens about the applications of distributed ledger technology (DLT).

The members of the Blockchain Association of Mexico include Bitso, Volabit, BIVA, GBM, Lvna Capital, ConsenSys and Exponent Capital. In addition to spreading awareness, the members intend to set up a regulatory framework for safe usage of the technology. Earlier, the government conducted a blockchain based public procurement process to test the possible applications of DLT.

Felipe Vallejo, the provisional president of the Blockchain Association, claimed that this technology aims at creating more transparent, secure and efficient procedures.