By : Franyi Sarmiento, Ph.D., Inspenet, June 6, 2022
The National Bank for Economic and Social Development (Bndes) and the Federal Court of Accounts (TCU) of Brazil have launched a blockchain network that will serve to monitor public spending in that country.
The launch of the so-called Red Blockchain of Brazil (RBB) is part of the cooperation agreement signed between the Bndes and the TCU with the aim that blockchain technology serves to improve 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 the participating institutions in a governance structure and technological infrastructure with the objective of facilitating the adoption of blockchain technology in solutions oriented to the public interest,” the Court noted. of Federal Accounts of Brazil.
Within the framework of the launch, which was broadcast on Youtube, the guests participated in the discussion on the technical aspects that revolve around the blockchain in the experimental phase.
Public and private institutions were urged by the TCU and the Bndes to join the Brazilian Blockchain Network. To materialize it, the interested parties must fill out a form, which will be reviewed by the project government team, made up of members of the TCU and the Bndes.
João Alexandre Lopes, manager of the Bndes Information Technology Area, said: “From the formalization, we will open the doors so that these partners can enjoy this common infrastructure and, thus, can bring benefits to the public interest.”
The Brazilian Blockchain Network works with Hyperledger Besu 2.0, which operates under a code that directly links companies to a public blockchain, which, in this case, is Ethereum (ETH).
Source : https://www.valoraanalitik.com/2022/05/31/brasil-lanza-red-blockchain-monitorear-gasto-publico/
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