BBVA API Market
Pablo Junco, Strategy manager of Microsoft, says in this interview that the banking industry is the sector most interested in Blockchain. The combination of APIs and block technology results in savings in costs and transaction times, among other services.
He stresses that APIs are critical for success. “APIs allow us to reach a mass of people, a kind of customer that we had not originally considered, and thus continue to make progress”.
Like BBVA, Microsoft is committed to APIs and to opening them to third parties. In the case of BBVA, they are driven through its open platform, which offers its financial APIs to help companies, startups, customers and developers who want to improve or transform their products and services or create new lines of business.
This commitment to innovation is also firm at Microsoft, through open platforms and Blockchain. For example, using Azure BlockChain as a Service (or Azure BaaS) -with multiple Blockchain partners as smart contract platforms) like Ethereum, Eris and Tendermint-, the R3 consortium has created a peer-to-peer distributed ledger to connect banks.
Don’t miss Pablo Junco’s views on APIs and blockchain technology in the interview below.
For more information:
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An API is a very useful mechanism that connects two pieces of software equipment to exchange messages or data in a standard format such as XML or JSON. Thus, it becomes an instrument that can be used to search for revenue, open the doors to talent or innovate and automate processes.