the launch of Blockchain network in Brazil was scheduled for the next few days, according to information shared by the Federal Audit Court (TCU). Thus, blockchain technology can gain more adoption in the country and consolidate its use among government agencies.
The news was shared in April 2022, when the TCU signed a cooperation agreement with the National Bank for Economic and Social Development (BNDES).
Since then, project leaders have explained how the new network will work and how public entities can enter this innovation ecosystem.
One of the main advantages of the novelty is the auditing of accounts, which can facilitate the fight against corruption in Brazil and fraud in the public sector. The government itself benefits from the new connection and reduction of bureaucracy, bearing in mind that the project is in its early stages.
Brazil Blockchain Network (RBB) Launch Confirmed by the TCU
The digitization of the Brazilian public sector proceeded in short steps, until the last two years saw an accelerated demand for new tools that support this process.
And part of this innovation process is through blockchain technology, recognized as one of the most modern ways to securely and immutably capture data.
The partnership between TCU and BNDES thus aims to bring more security and transparency in “transactions of public institutions and of public interest”.
“The network, public and non-profit, will have a national scope and will connect participating institutions in a governance structure and technology infrastructure with the aim of facilitating the adoption of blockchain technology in solutions aimed at the public interest.”
According to the TCU, the launch of the Brazil Blockchain Network will take place next Monday (30) through a ceremony sealing the partnership with BNDES.
This event will take place at the Ministro Pereira Lira Auditorium, at TCU’s headquarters, in Brasília, between 3:00 PM and 5:00 PM, and will be broadcast on YouTube from the court.
Future participants are presented
In addition to the official launch of the Brazil Blockchain Network, TCU and BNDES will announce the creation to future participants in this ecosystem. The public sector innovation ecosystem is expected to switch to blockchain in the coming years.
Some potential participants will also be heard during the event, including those already involved in the experimental phase of the novelty. These experiences introduce the technology and technical issues are still under discussion.
During the event, future participants are then introduced and invited to join RBB.
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.
