One of the goals of the Brazilian government's public blockchain will be to combat corruption and public spending.
On May 30, the new public blockchain created by the Brazilian government in cooperation with the Uniam Court of Accounts (TCU) and the Brazilian Development Bank (BNDES) was launched.
The launch of the blockchain was broadcast live on the official YouTube channel of the Court of Accounts of Uniam (TCU). During the broadcast, the technical aspects of the project were discussed and included the participation of experts in the field, public officials, business executives and representatives of several university institutions.
The blockchain that will be called “Brazilian Blockchain Network” (RBB) It is still under development, but will be used by various public institutions to improve public services and provide better traceability of public spending. In this regard, one of the priority objectives of the RBB is to put an end to the public corruption that the country is suffering from.
The creation of this public blockchain is part of a broader effort to Integrating blockchain technology into public administration to improve workflow and transparency of public spending.
It might interest you: Could Paraguay be the next El Salvador?
The benefits of blockchain for the public sector
Thanks to the incorruptible nature of the blockchain, the RBB will enable authorities to fight corruptionThe blockchain will record all public transactions while making it easier for politicians and officials to report any signs of corruption, embezzlement or illegal activities.
The idea of using blockchain technology for this purpose arose in the second quarter of 2019. Since then, the topic has been widely discussed by the Brazilian government, due to the advantages that the technology offers when auditing public spending data.
“The use of blockchain technology has been widely discussed, as it allows for greater protection, transparency and integrity in the storage of information in public databases to enable auditability of the data placed,” said Ana Arraes, president of the TCU of Uniam.
Once the first phase is completed, in which only a few entities will participate, technology will be opened to the public so that all partners can enjoy the infrastructure and benefit from blockchain technology.
Latin America pioneers the use of blockchain technology
Area Latin America is a pioneer in the use of blockchain in the public sector. Countries such as Colombia, Peru or Argentina have already implemented blockchain in the public sector, allowing citizens to audit state activities.
In 2021, Colombia announced the development of a pilot project on blockchain to combat public corruption, the results of which are not yet known. For its part, Peru uses blockchain to improve the traceability of public contracts and is experimenting with digital identity (ID) models and other traceability solutions.
[hubspot type=cta portal=20298209 id=38fb28e1-1dc1-40e3-9098-5704ca7fcb07]
