Understanding that blockchain technology is a decentralized digital record of transactions shared among a network that is immutable or unchangeable, with the objective of increasing trust, security, transparency and traceability of shared data in an enterprise network, increasing cost savings thanks to its new efficiencies. Blockchain technology can benefit many sectors, such as financial services and banking, mainly in the increasingly evolved world of cryptocurrencies, where traceability and authenticity are essential. However, it can also be useful in other sectors, such as retail and logistics in general.
Therefore, the objective of this article is to examine the impact of blockchain technology in improving transparency and security in the financial sector in Panama, as it has a unique potential to revolutionize the financial sector. This has led some to ask: What are the alternatives?.
