The Brazilian Development Bank together with the Federal Court of Accounts launched the project: Red Blockchain Brasil

The National Bank for Economic and Social Development of Brazil (BNDES) together with the Federal Court of Accounts (TCU) announced the launch of the  Brazil Blockchain Network project on Monday May 30 with the sole objective of optimizing the transparency of government services.

This new project, which intends to play an important role in guaranteeing more efficiency, transparency and security, also includes the incorporation of other organizations that intend to help the project achieve its goals, since they believe that the success of the project is related to the number of institutions that support the idea.

Gustavo Montezano, president of the BNDES, highlighted in this sense that an agreement will be made so that more institutions participate in the construction of the RBB. “The more people act collectively, the better,” he said.

For his part, the superintendent of the technology area of ​​the BNDES, Fernando Lavrado, spoke of designing the regulation of the network and starting the process of uniting all interested public entities and organizations. “We want to get out of the laboratory structure and mount the production pilot; so that the third parties focus more on the application than on the structure that we have already thought about,” he commented.

It should also be noted that this network, which will be public and non-profit, will have national coverage, will offer the possibility of creating tokens, and it is estimated that it will have the first decentralized application by 2023.

Lastly, according to Wesley Vaz, director of the Information Technology Inspection Department of the TCU, a chronic problem has been developing over the years, it has been the distrust in the State by the Brazilian population and believes that blockchain it will increase trust in processes and situations involving multiple parties.