The implementation of electronic money in Ecuador has a basic difference with the models adopted by other countries in the region: it was implemented by the central bank (BCE, for its Spanish acronym) and without participation of major private financial actors in the country, which excluded themselves from the system because they do not agree with the conditions for participation. Ricardo Quiroga, Project Manager of Electronic Money at ECB, explained to Convergencialatina that the essence of the initiative is "in a state that generates relevant, real and repetitive transactions."