The event organized by ‘El Confidencial’ took place last October 23rd in Madrid.

Companies from different sectors such as Metrovacesa, Everis, JLL, Cecabank, Instituto de Empresa and Finweg gave examples of how the application of Blockchain technology is already a fact in real life.

On behalf of Finweg, Wladimiro Navarro participated with the presentation: How Blockchain revolutionizes payment methods, in which he showed the advantages of blockchain technology applied to payment solutions, such as: simplifying banking operations, eliminating risks and fraude, reducing settlement period, improving capital management and improving regulatory efficiency.

Of special interest in his presentation was the proof of concept carried out in Argentina for the processing of a 100% electronic cheque with blockchain technology in which the main banking institutions in Argentina participated. The demonstration made it posible to test the complete cycle of electronic cheques, from their issuance and endorsement to their deposit by clients from various banks, and even unbanked customers.

This is one of the possible applications of the technology in payment methods. Currently, Finweg works to apply blockchain technology in other processes such as: International Transfers, Term Transfers, Direct Debit, Letters of Credit, Electronic Promissory Notes, New Payment Methods & Smart Payments.