UN Commission: Blockchain Can Help Struggling Banks in Latin America

 The Economic Commission for Latin America and the Caribbean (ECLAC) has stated Blockchain could help improve costs in troubled banking sectors. “First, an appropriately designed Blockchain-based settlement network would offer tools to improve surveillance of transactions, which would enable the detection of illicit financial transfers and thereby decrease risk and associated compliance costs.”“Second, a Blockchain-based network would offer Caribbean banks the opportunity to bypass correspondent banks altogether, thereby reducing transaction costs and increasing efficiency.”https://cointelegraph.com/news/un-commission-blockchain-can-help-struggling-banks-in-latin-america