IFC said in a press release that it had launched a new phase of DigiLab, a training program that encourages financial institutions in Latin America and the Caribbean to develop digital transformation strategies.
Industry experts agree that the digital transformation should be embraced by workers and supervisors. There should also be also a push for better education and training programs.
The public university wants a reform to the law that will allow it to form companies to generate income.
The initiative will focus on the key attributes of blockchain to address complex challenges in services delivered by Telefónica that register data and information from different sources regarding business and network processes.
The US$100mn infrastructure project is due to be in place and in operation in time for the APEC Summit in Chile in November 2019, ahead of the March 2020 deadline.
The agreement was signed in Israeli capital Tel Aviv by Pamela Gidi, head of Chilean telecoms regulator Subtel, and Israel's telecommunications minister Ayoob Kara.
IFT commissioner Javier Juárez said that there is a need to work closely with local governments to secure development of sufficient infrastructure.
The document from regulator IFT still includes different interconnection tariffs for América Móvil and its competitors.