Banco do Brasil has expanded its innovation process in emerging technologies, with blockchain being one of the highlights of this process. The financial institution has set up a laboratory to develop applications with distributed data.
With more than 5,000 branches spread across the country, Banco do Brasil started life in 1808, when the country was transformed from a colony to an empire. This is the first Brazilian banking institution and shows that it remains alert to changes and innovations.
Blockchain technology, for example, has been used by Banco do Brasil since late 2020 in a process of selling rural properties. Through the AgroBB platform, technologies from startups and traditional companies are combined to offer real estate across the country.
Bando do Brasil to invest in innovation with new blockchain lab
Last week, Banco do Brasil announced the creation of a blockchain experimentation and innovation lab called Lentes BB. With this environment it will be possible to train the business units of the institution, in addition to selecting projects that use technology for functional prototypes.
To innovate, GoLedger, GovTech of blockchain solutions company, will partner with the bank in the lab. Pedro Bramont, director of digital affairs at Banco do Brasil, highlighted the use of laboratories for innovation as one of the pillars of the institution’s strategy.
“One of the pillars of our open innovation strategy is activating innovation labs aimed at identifying and enabling emerging technologies with the potential to drive efficiencies, new revenues and better experiences for our customers.”
According to BB’s technology director, Rodrigo Mulinari, blockchain technology is one of the highlights for creating more efficient processes and services. This shows that the employees of one of the largest banks in Latin America are excited to work with this innovation that accelerates the digital strategy.
“Today, blockchain is one of the technologies that allows you to create more efficient, interoperable and more secure processes and services. This partnership allows us to increase the use of this technology and thus accelerate our digital and technology strategy.”
“Banco do Brasil has shown that it remains committed to providing quality services”
Partner of Banco do Brasil in the process, GoLedger has the GoLab lab that enables a full cycle of blockchain services, and is the only one in the country experimenting with innovations with this technology.
For GovTech’s COO, Otávio Soares, this new partnership demonstrates Banco do Brasil’s commitment to maintain its services with a higher quality.
“BB demonstrates its commitment to the continuous improvement of its services, as well as its vision to put a bicentennial bank at the forefront of digital transformation in the country. It is an honor for us to be a part of such an important moment.”
In recent years, Brazil has placed blockchain as a pillar technology of the digital innovation strategy, that is, any public institution that wants to innovate with it, its doors are open.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
