Blockchain technology may very well be the most significant innovation in book keeping since the double entry system. In essence, blockchain enables a group of users to record transactions in a public, immutable, time stamped, distributed and cryptographically protected ledger. We strongly belief that development of public and private blockchain solutions offer ample opportunities for both innovators and existing companies. Disruptive technologies are generally accompanied by legal challenges; that is why at FABREGA MOLINO, we are leveraging our existing knowledge of banking, securities and cybersecurity regulation to advise our clients on application of blockchain based business models.
Cryptocurrencies are the first and most common use case of blockchain technology. Cryptocurrencies are demonstrating use cases for decentralizing financial services such as payments, crowdfunding, trading and alternative store of value from fiat currencies. Even though regulators around the world are concerned about the Anti Money Laundering (AML) and investor protection considerations that surround cryptocurrencies, we believe that ultimately law and industry will come together. In the absence of regulation in Panama, we take considerable efforts to support and advise our clients on best practices and useful solutions.
We continue to monitor the development of regulation and other blockchain applications such as digital signatures, smart contracts, securing property and tokenization of assets.
At FABREGA MOLINO, this practice area includes the provision of the following services:
José Agustin Preciado Perez