We are delighted to announce our entry into Mexico through a licensing agreement with CarralSierra.
Mexico is the world’s ninth-largest economy and represents a burgeoning launchpad for technology-based solutions that can support post-Covid recovery and accelerate economic growth. The country’s tech sector has grown by 7% annually in recent years and Venture tech funding has grown considerably faster, with firms raising nearly US$550 million in 2019, up from US$117.6 million in 2017. In 2020 Mexico also christened its first ‘unicorn,’ a pre-IPO tech firm valued at over US$1 billion.1
This offers a unique opportunity for The Proof of Trust, which has the power to transform the way that Mexico’s largest industries conduct business. Through the deployment of its world-leading assurance layer and automated dispute resolution capabilities, powered by its IBM-backed protocol, The Proof of Trust can ensure business continuity throughout the Covid-recovery period – thereby supporting economic growth and job security across Mexico.
The Proof of Trust’s purpose-built Nimbus platform will also be deployed to help the Mexican government ensure that the positive impact of its Covid support schemes, including the state compensation and economic stimulus measures, is not undermined by individuals acting in bad faith.
Sakhib Waseem, Chief Innovation Officer at The Proof of Trust said: “Entering the Mexican market is a hugely exciting prospect for The Proof of Trust. As one of the world’s largest and most diverse economies, sitting on the cusp of two continents, there are numerous opportunities to develop innovative new solutions to some of the biggest problems facing a post-Covid world.
“In partnership with CarralSierra we plan to drive the adoption of new products that will enhance the country’s business environment and create an ecosystem from which Mexico can become a world-leading tech hub.”
Magdalena Carral, co-Founder and Partner at CarralSierra, said: “As a business with a firm commitment to transparency, we are proud to partner with The Proof of Trust to promote the adoption of its ground-breaking, blockchain-based technology. The protocol has the power to foster greater transparency, efficiency and business continuity across multiple sectors and at a governmental level in Mexico”.
The Proof of Trust has undertaken a period of intense growth and expansion as it continues to develop innovative solutions across a rapidly growing network of in-country partners. This announcement follows licensing agreements signed in some of the world’s fastest-growing tech hubs, including Israel, Malta, and Bermuda. Mexico’s proximity to, and integration with, the US market and close economic and cultural ties with the rest of Latin America make it the ideal hub for The Proof of Trust’s further expansion in the Americas.
Read more on the London Stock Exchange site: https://www.londonstockexchange.com/news-article/market-news/licensing-agreement-with-mexico/14913517