Brazil to launch blockchain to fight corruption this year

The Federal Audit Court and the National Bank for Economic and Social Development have signed a technical cooperation agreement to create a public Brazilian blockchain network (RBB).

The creation of a joint blockchain system will help improve security and transparency in government agencies. Brazil also hopes that the use of blockchain technology will help fight corruption in the context of tracking public spending.

The project is currently under development. However, the country’s leadership does not rule out that the system will be implemented in some state institutions in the coming months.