Copy link
Increase text size
Decrease text size
Link copied

Blockchain makes Brazilian government contract bids more transparent


Sun, 14 Jul 2019, 12:59 pm UTC

A state in Brazil is making use of Blockchain in order to facilitate government contract bids in a more transparent and open manner. This will do so by tracking the details of the bid, which will then allow regulators to see if there have been any discrepancies with regards to the data. Everything from the costs to the participants will be included in the information and the blockchain network will make tampering quite impossible.

The state, in question, is Bahia and the solution that it is employing that is based on blockchain is called the Online Bid Solution (SOL). In the post regarding the SOL, it was explained that the network was made by the firm Cayenne Technology and Design. It would also appear that the application is already available via the Google Play Store and the Apple App Store.

“The application, already available in the Play Store and the Apple Store, will be used by about 1,100 agricultural associations and cooperatives in the states of Bahia and Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank,” the post reads.

It would appear that Brazil is becoming more invested in blockchain, at least, as far as its private sector is concerned. Another example of blockchain making a difference in the South American country is the matter of Minasul, a cooperative for coffee farmers in Brazil, Cointelegraph reports. That particular instance involves the use of tokens that farmers can then use to exchange for certain goods.

Thanks to the transparency that the decentralized ledger technology offers, it becomes much easier for governments or cooperatives to trust in the integrity of the process. On that note, this does not blockchain completely impervious to corruption, especially of access to the information is restricted.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,243.85 (+0.58%)
  • Ethereum (ETH) $145.62 (+1.79%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.82 (+0.39%)
  • Litecoin (LTC) $44.09 (+0.44%)
  • Bitcoin (BTC) $7,243.85 (+0.58%)
Dec 12, 2019 (Thursday)
Binance launches Latin American fiat gateway; adds new fiat payment options
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: Tezos (XTZ) bucks bearish crypto market trend, grinds higher with strong bullish momentum
Blockchain startup Digital Asset secures $35M in Series C round
Crypto Technicals: DASH/USD finds no respite from bears, set to hit fresh record lows
New York regulator publishes proposed guidance to modify BitLicense
Consensys shuts down India, Philippine offices; 11 people axed by the closure
SEC chairman says DLT can foster capital growth; Revealed that agency has been studying digital assets
Crypto Technicals: XRP/USD capped at 20-DMA, on track to test trendline support at 0.1975
Napoleon Bitcoin Fund launches in France to cater institutional investors
Digital assets are here to stay; State Street survey reveals continued institutional interest
Crypto Technicals: ETH/USD dips below 140 mark, eyes trendline support at 132
Enterprise Ethereum Alliance, Chamber of Digital Commerce partner on tokenization efforts
Square Crypto awards grant to pseudonymous Lightning contributor ‘ZmnSCPxj’
Crypto Technicals: Bitcoin hits 2-week lows below $7100, bearish bias with rising volatility to see more weakness
Russian power grid company to use blockchain technology to solve massive energy debt issue
Elliptic launches a risk-assessment tool for banks to identify trustworthy crypto exchanges
Dec 11, 2019 (Wednesday)
Wu Jihan once again takes over the helm at Bitmain as CEO
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.