Economic Development Bank and Court of Accounts join forces to create the Blockchain network in Brazil – DiarioBitcoin

Economic Development Bank and Court of Accounts join forces to create the Blockchain network in Brazil - DiarioBitcoin

Economic Development Bank and Court of Accounts join forces to create the Blockchain network in Brazil - DiarioBitcoin For DailyBitcoin Editor

The Brazilian Development Bank sets a deadline for the launch of the Blockchain network in a maximum of 5 years.

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The National Bank for Economic and Social Development of Brazil (BNDES) was associated with Court of Accounts of the Union (TCU), a constitutional institution of the Brazilian government, to complete the development of the Brazilian Blockchain Network, RBB, with the aim of improving the transparency of public spending in the country. In addition, the company, established through a memorandum of understanding, establishes a deadline for the completion of the project, which should be finished in five yearsyes

This Monday, April 18, through the Official diaryit was reported that the project will not have transfer of funds between the agencies, and will be developed based on the Hyperledger Besu 2.0, inspired by similar models in other Latin American and European countries. .

the details of the Brazilian Blockchain Network (RBB) were revealed in March, during the event Ethereum Rio. On the occasion, Gladstone Arantes, specialist in Blockchain of the BNDESexplained that RBB will run on a proof-of-authority consensus model, i.e. without mining.

Likewise, the Social Security Technology and Information Company (Dataprev), PUC-Rio, the Information Technology Company of the State of Minas Gerais (Prodemge), the Institute of Information Technologies and Communications of the State of Espírito Santo (Prodest) and the Innovation Laboratory of the Development Bank Group (IDB LAB) they are partners in the elaboration of the RBB.

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promote innovation

Also according to Arantes, the objective of the BNDES it is “promote innovation in the use of Blockchain technology for applications of public interest, with an emphasis on the trust necessary for anti-fraud measures and in favor of transparency”.

“We understood, in discussions with our colleagues, that having a framework for government systems would accelerate innovation,” said.

Furthermore, the use of technology blockchain by government-related entities is increasing. Last month, Eletrobrasthe largest energy distributor in Brazil, announced a tender to hire a protocol to reduce bureaucracy in granting the seal process, used to mediate the energy efficiency of household appliances.

Likewise, the Brazilian government also announced a few days ago that it will carry out a pilot test for its CBDC this year, and the Brazilian congress is also expected to approve a unified legal framework for cryptocurrencies in the coming months.

Sources: official organ, bitcoin.com, examarchive

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