Blockchain Industry Expansion in Mexico Key to Augmate Connect Partnership

Blockchain, Innovation, Investing, News | January 15, 2018 By:

Augmate Connect claims to be the first Internet of Things (IoT) device management platform using distributed ledger technology. The Augmate Connect Platform will be activated and utilized using tokens called MATEs (Machine Access Token Exchange).

The company recently announced a partnership with Maximilian Ventures to promote blockchain and distributed ledger technology development in Mexico and throughout Latin America. The partnership will focus on investment, infrastructure, and job creation in hopes of developing Latin America as a global leader in blockchain and distributed ledger technologies.

The partners will start by creating a task force to build an infrastructure in Mexico supporting distributed ledger solutions, beginning with the Augmate Connect platform for Internet of Things (IoT) devices.

Dana Farbo, chief operating officer of Augmate, talked with Block Tribune about those plans.

BLOCK TRIBUNE:  What kind of infrastructure is needed in Mexico to support what you are doing and things beyond your own company’s needs?

DANA FARBO: We are assembling thought leader participation to help future-state the opportunity of job creation and expanded entrepreneurship. We will establish focused work-share spaces for teams of people working on real problems using distributed ledger technology (DLT). There will be educational forums, internships and other support options for companies and individuals moving forward. The physical will be advanced by the virtual where Augmate can bring our work in wearable technology to create global participation in helping the local teams solve problems.

BLOCK TRIBUNE: What are the biggest hurdles to establish a blockchain industry in Mexico and throughout Latin America?

DANA FARBO: Throughout the world, there is a shortage of knowledge workers in blockchain and distributed ledger technology. Certain areas such as the Crypto Valley of Zug, Switzerland have higher concentrations of focused experts than most of the world. This takes time to establish and requires the support of education, local industry, government, the investor community and others to maximize impact. The biggest challenge is in making sure that there is alignment with all participants and opportunity for an educated workforce to work on local needs and global projects. People are the biggest asset but they will need the work or will be forced to move to where it is.

BLOCK TRIBUNE: What is the state of the blockchain industry in those countries at this point?

DANA FARBO:  The blockchain industry is in the very early stages everywhere and expected to explode in usage and need within the next few years. There are some very interesting startups throughout Latin America that have embraced blockchain and DLT. With bold moves such as what we are doing, Mexico can establish a globally relevant position as a leader in the space.

BLOCK TRIBUNE: Cronyism and family ties are important to a lot of large Mexican businesses. How are you dealing with that?

DANA FARBO:  Personal relationships are critical when dealing within the Mexican culture. Augmate would not expect to succeed without strong partnerships such as with Maximiliano Ventures. We support their efforts by bringing our knowledge and capabilities to bear on the problems and opportunities of the technology.

BLOCK TRIBUNE:  Are there specific countries being targeted for the early rollout of this plan?

DANA FARBO:  Mexico is our initial focus. We will work to establish a framework that can be replicated across Mexico and beyond once we are successfully moving forward there. That said, as resources are added to our team in Mexico, we will support business needs across Latin America and the world.

BLOCK TRIBUNE: What role do schools play in establishing this initiative?

DANA FARBO:  Education is at the heart of the long term strategy. Our goal is to partner with education providers to encourage curriculum development and proficiency. As well, using the R&D capacity of schools creates an ability for those schools to participate in the value beyond the classroom.

BLOCK TRIBUNE:  What is the Mexican government stance on cryptocurrency?  On blockchain?

DANA FARBO:  While we are not in a position to comment on anyone’s stance on cryptocurrency, especially that of a government, we believe that Mexico recognizes the benefits that advancing technology worker proficiencies can lead to local job growth and prosperity.