Brazilian Government Launches A New Blockchain Network To Combat Corruption

The Brazilian government has unveiled a new blockchain network in a bid to combat corruption in public expenses by tracking them efficiently. The network was launched at an event, which was streamed on YouTube took place after a cooperation agreement was signed by the Court of Accounts of Uniam (TCU) and the Brazilian Development Bank (BNDES). The move is part of Brazil's interest in being at the forefront of integrating blockchain technology into its public administrative system and helping improve both efficiency and traceability in the process.

As per a press release issued by TCU ahead of Monday's launch event, the Brazilian Blockchain Network is still in development but will be used by a number of governmental institutions in an attempt to improve services provided to citizens and offer better transparency on public expenditures.

"The network, public and not-for-profit, will be national in scope and will connect participating institutions in a governance structure and technological infrastructure with the aim of facilitating the adoption of blockchain technology in solutions aimed at the public interest," reads the release when translated from Portuguese, verbatim.

Full detail here

https://coins-gazette.com/post-detail/brazilian-government-launches-a-new-blockchain-network-to-combat-corruption