Brazil starts using blockchain to control public procurement

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Brazil starts using blockchain to control public procurement

The Brazilian state of Bahia launches a blockchain application for conducting and monitoring tenders for government orders.

State officials say the agricultural sector will benefit the most from the innovation, as it will help agricultural organizations connect with suppliers and workers across the country. At the same time, the use of distributed ledger technology will ensure transparency and security of transactions..

More than 1,000 agricultural associations and cooperatives in the states of Bahia and Rio Grande do Norte plan to use the project, according to a statement from the authorities. The project was implemented with the support of the World Bank, which provided a loan.

Brazil starts using blockchain to control public procurement

An application called Online Bid Solution was developed by Cayenne Technology and Design. It is already available in the Play Store and Apple Store.

Brazil is actively integrating blockchain technology into its infrastructure and economy. Recently local the coffee cooperative Minasul has decided to issue a token that farmers will receive for collecting beans and can use to buy goods. In December 2018, the National Bank for Socio-Economic Development of Brazil announced plans to fight corruption with a stablecoin pegged to real.

text: Ilya Bauer, photo: Shutterstock