This week, the Mexican Stock Exchange (BMV) announced plans that would allow local investors to acquire non-fungible tokens, while representatives from the country’s business sectors highlighted the importance of SMEs in the Industry 4.0 transition.
In international news, the semiconductor shortage is leading companies to open more plants to supply this highly-demanded technological product. Meanwhile, code repository platform GitLab debuted on the stock market and reached a multibillion-dollar valuation on Thursday.
Ready? This is the Week in Tech!
Taiwan Semiconductor Manufacturing Company (TSMC) and Sony Group are discussing a joint venture to build a JPY$800 billion (US$7.15 billion) semiconductor factory in Kumamoto, Japan. The plant will produce semiconductors for vehicles, camera image sensors and other products hit by global shortages. The factory is expected to start operations in 2024. Meanwhile, the semiconductor shortage continues to affect numerous sectors across the globe, which might be linked to Ford’s decision to stop production at its plant in Hermosillo, Mexico, starting on Oct. 15.
Representatives from the National Confederation of Industrial Chambers (CONCAMIN) and the Business Coordinating Council (CCE) highlighted the importance of SMEs in Mexico’s adoption of Industry 4.0 practices. The comments were made during the Industrial Transformation MEXICO forum, which hosted numerous trend-setters in Industry 4.0 from Latin America. Experts also agreed that SMEs’ poor investment in technologies and innovation could set their efforts back.
José-Oriol Bosch, General Director of BMV, announced during the National Week of Financial Education (SNEF) that the organization was seeking the necessary authorizations to list cryptocurrencies. This decision follows the demand from Mexican investors interested in these alternatives.
BBVA Mexico kicked off its sixth Hackathon to help nurture the talent of tomorrow. This event is part of the ethical hacking trend supported by governments and businesses to try to keep up with cybercriminals. These types of events aim to test and identify system flaws and areas of improvement. BBVA’s test includes challenges posed by business units, global entrepreneurs and developers.
Coding platform GitLab made its stock market debut on Thursday. The company’s shares jumped by 35 percent after the NASDAQ debut, allowing GitLab to reach a US$14.9 billion valuation. GitLab is the largest independent Git code repository and competes directly with Microsoft’s GitHub. GitLab is an open-source platform with over 1 million active users and over 30 million registered users.