Blockchain consortia can be found all over the world. Especially in Spain, there are some interesting efforts to keep an eye on. The Alastria consortium welcomes RiskMS as their newest member. This tech company specializes in compliance and RegTech. It is evident this new member will bring positive attention to the consortium as a whole. Moreover, this will hopefully lead to new and innovative products and services.

It is good to see the global blockchain efforts continue unabated. The use cases for distributed ledgers are virtually limitless. New opportunities need to be explored whenever possible. As such, we see a blockchain consortium in most countries these days. In Spain, the biggest venture is known as Alastria. This consortium uses a semipublic blockchain network which is accessible to developers and service providers.

RiskMS Joins the Alastria Consortium

RiskMS sees a lot of merit in this approach. They want to investigate and develop new solutions based on blockchain technology. Their particular focus lies on making organizations comply with regulatory obligations. Especially when it comes to AML and FSORM, there is plenty of room for improvements. Generating new business opportunities will be a top priority. A lot of work will need to be done before any of this can effectively happen, though.

RiskMS Managing Director Roberto de la Cruz comments:

“From a Compliance point of view, Blockchain technology poses a real challenge of which we want to be a part of. We face a new scenario based on the exploration of new ways of defining digital identity, verification and validation of operations. To be a part of the Alastria consortium means to collaborate with big players of different industries for the creation of a Blockchain network in which we can provide our compliance expertise and our experience with technology adapted to industries such as banking, insurance or real estate.”

It is evident there is a bright future ahead for the Spanish blockchain consortium. With this latest member joining the ranks, things will get very interesting. Alastria is a name well worth keeping an eye on in this regard. The whole world will take notice of blockchain-based improvements sooner or later. With a good focus on compliance, RiskMS is certainly on the right track to make a positive impact.

Header image courtesy of Shutterstock


About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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