Banco do Brasil says blockchain allows for more efficient products.
Banco do Brasil (BB) created a laboratory for experimentation and innovation in blockchain. The objective of Lentes BB is to train the institution’s business areas and select projects using technology to develop functional prototypes. Its performance will cover BB’s 41 boards. GoLedger, which develops solutions in permissioned blockchains for government and companies, is a partner in this initiative.
Banks have been looking at and testing blockchain for some time, but they avoided talking about it. Now, they officially launch initiatives and some are in the Lift Challenge, a digital real testing program, with blockchain solutions. BB is also in the metaverse, an environment in which tokens are also inserted.
“One of the pillars of our open innovation strategy involves activating innovation labs focused on identifying and enabling emerging technologies with the potential to generate efficiencies, new revenues and better experiences for our customers,” says Pedro Bramont, Digital Business Director at Bank of Brazil.
“Blockchain is one of the technologies that allows you to create more efficient, interoperable and secure processes and services. This partnership will allow us to increase the use of this technology and, thus, accelerate our digital and technological strategy”, said Rodrigo Mulinari, BB’s director of technology.
GoLedger, a partner of BB, already develops projects with the Military Police of the State of São Paulo, Celepar, the technology company Paraná, and with Petrobras. GoLedger is a finalist for the National Innovation Award, an initiative of the Business Mobilization for Innovation (MEI), held by the National Confederation of Industry (CNI) and the Brazilian Support Service for Micro and Small Enterprises (Sebrae).
BB says blockchain allows for scalable products
“BB demonstrates its commitment to the continuous improvement of its services, as well as the vision of placing a bicentennial bank at the forefront of digital transformation in the country. It is an honor for us to be part of such a significant moment”, said Otávio Soares, COO of GoLedger
BB Lentes de blockchain will be supported by GoLAB, which GoLedger launched in 2021. It is the only blockchain lab in the country with a full service cycle and the ability to deliver a working prototype in three months. This includes training teams and technological infrastructure from the cloud to blockchain solutions for services such as people identification, data privacy, process and document management, product traceability and online voting. In addition, there are mentoring, advisory and smart contract development services.
According to BB, blockchain has become one of the great allies in digital transformation, “since it changes the conditions under which business is done”. According to the bank, technology allows the creation of more modern and scalable services, following the cultural and technological evolution of society, with the consequent improvement in the performance and reliability of companies in the provision of services to customers.
In January, Banco do Brasil announced two corporate venture capital funds, which will share R$200 million. One of them focuses on generating a positive socio-environmental impact, to invest in startups aligned with the bank’s strategy.