5 Brazilian government projects that use blockchain

5 Brazilian government projects that use blockchain

Brazilian government initiatives using blockchain comprise information exchange systems and shared data networks

5 Brazilian government projects that use blockchain

By Editorial Staff

Blockchain technology has proven to be a competitive advantage for companies and governments. Although in Brazil there is still no discussion about the issuance of its own sovereign currency, the Brazilian government has been using the technology for other purposes. These include networks for the exchange of information between agencies, shared networks and other solutions in the public sector. Here are some of them:

1 -CVM launches information exchange platform

CVM launched the platform called PIER (Regulatory Entities Information Integration Platform), based on blockchain technology and aiming to reduce costs for participants. The platform will act in the exchange of information, increasing security and agility in those operations. The system will provide immediate and up-to-date response to data that can contextualize investigations and actions within the competence of the Securities and Exchange Commission itself, the Central Bank or the Superintendence of Private Insurance.

2-IRS develops customs system in blockchain

The Internal Revenue Service is developing a tool, called bCONNECT, that allows the network sharing of registration information of companies certified by the Internal Revenue Service as an Authorized Economic Operator (OAS) and that can benefit from  facilitating customs procedures, both in Brazil and abroad. In this system, each member country of the network includes information relating to its OAS companies on the blockchain network, and this information will be immediately viewed by those countries whose Smart Contract is established.

3-Presidency hires blockchain network

The Brazilian Republic Presidency recently opened bidding to hire a company specialized in blockchain, to provide the government with a solution for the creation and governance of a shared network. According to the publication in the Official Gazette, the system created by the contracted company should enable the development of ecosystems that bring control, transparency, reliability and auditability of processes.

4-Blockchain in digital transformation

Blockchain technology was included in the Federal Government’s digital transformation program, which will be carried out throughout this year by the Brazilian Agency for Industrial Development (ABDI). The investment in the entity linked to the Ministry of Economy will be R$ 25 million. According to an order published in the Official Gazette (DOU), blockchain technology is now being studied as a tool for creating innovative solutions in the public sector

5-Solution gathers  IoT and blockchain

The Telecommunications Research and Development Center (CPqD) is developing a digital identity system called BlockIoT, a solution based on blockchain and Internet of Things (IoT) technologies. The institution said that the use of these technologies allows more security, privacy and reliability to authentication processes, as well as identity control and traceability of objects.