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Abstract
This article aims to identify the benefits and challenges that Blockchain technology could generate in the economic and financial spheres of Latin America. To do so, a qualitative, descriptive, and documentary methodology was used, which included the analysis of academic and institutional sources and case studies in countries in the region such as Colombia, El Salvador, Brazil, and Uruguay. The research determined that Blockchain is considered a technology that helps transform different markets, offers security and transparency, and important advantages, such as decision-making and certain responsibilities within organizations. It also helps with financial inclusion and the reduction of operating costs, especially in banking systems that are excluded. The results suggest that this database can be applied to various transactions, as well as to reduce poverty and promote productive and sustainable development within tourism and other areas, as well as to central banks worldwide that issue and strengthen digital currencies. However, Blockchain presents a number of challenges, such as poor infrastructure in the regions, risks related to the security and volatility of financial systems, and insufficient literacy regarding technological advances. The discussion mentions that Blockchain is a potential game-changer that can be leveraged in large markets and industries through public policy, education, and investment in the technologies, as well as cooperation among financial institutions. In conclusion, the strategic adoption of Blockchain can contribute to the region's sustainable economic and financial development, provided its structural and regulatory challenges are effectively addressed.
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