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The Federal Government officially launched on Monday (May 30) the Blockchain Network Brazil. The project aims to facilitate technology for data management among public institutions and in the public interest.

The Blockchain Brazil Network (RBB) is the result of a partnership between the Brazilian Court of Audit (TCU) and the National Bank for Economic and Social Development (BNDES).

The two institutions signed a technical cooperation agreement that created the first public blockchain network of the Brazilian government. According to the TCU, the project will provide more security and transparency for information management processes.

“With the expectation of the contribution of this technology to the improvement of security and transparency in the transactions of public institutions and public interest, the TCU and the BNDES signed a technical cooperation agreement to create the Blockchain Network Brazil (RBB)”.

Brazil’s government uses blockchain

The Federal Government used the technology to create a project for a public, non-profit network. The Blockchain Network Brazil was launched on Monday afternoon (May 30).

As the program says, the ceremony was supposed to take place between 3 pm and 5pm to celebrate the official launch of the RBB. The event was held in the Auditorium Minister Pereira Lira, at the headquarters of the TCU, in Brasilia – DF.

In addition to the face-to-face ceremony, the event was broadcasted for free through Youtube. The TCU advises that the project should cover the entire country, ensuring more security for public acts and contracts.

“The network, public and non-profit, will have national coverage and connect the participating institutions in a governance structure and technological infrastructure to facilitate the adoption of blockchain technology in solutions aimed at the public interest”.