{"id":48146,"date":"2022-06-01T17:48:37","date_gmt":"2022-06-01T15:48:37","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48146"},"modified":"2022-06-01T17:48:37","modified_gmt":"2022-06-01T15:48:37","slug":"the-brazilian-development-bank-initiates-a-blockchain-network","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/the-brazilian-development-bank-initiates-a-blockchain-network\/","title":{"rendered":"The Brazilian Development Bank Initiates a Blockchain Network"},"content":{"rendered":"<p style=\"text-align: justify\"><span style=\"font-weight: 400\">To increase <strong>public transparency<\/strong> in different institutions, the <strong>Brazilian Development Bank<\/strong> has launched the<strong> Brazilian Blockchain Network<\/strong>. The <strong>Court of Accounts of the Union<\/strong> helped in the launch of the<\/span><strong><a href=\"https:\/\/www.cnnbrasil.com.br\/business\/tcu-e-bndes-lancam-projeto-de-rede-com-tecnologia-blockchain-para-servicos-publicos\/\" target=\"_blank\" rel=\"noopener\"> project<\/a><\/strong><span style=\"font-weight: 400\">. In addition to this, the organization is urging other <strong>similar institutions<\/strong> to lend their support for the whole project. They believe that the <strong>success<\/strong> of the project is linked with how many institutions back the idea.<\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The Brazilian Blockchain network was<\/span><strong> launched<\/strong><span style=\"font-weight: 400\"><strong> on May 30<\/strong>. It is a <strong>joint venture between the Brazilian Development Bank and the Court of Accounts of the Union<\/strong>.\u00a0The project aims to play a major role when it comes to <strong>optimizing and streamlining<\/strong> the whole network. That also includes the addition of other organizations to lend a helping hand in paving the way for the project to achieve its <strong>motives<\/strong>.<\/span><\/p>\n<p><iframe title=\"Lan\u00e7amento da Rede Blockchain Brasil (RBB)\" width=\"1200\" height=\"675\" src=\"https:\/\/www.youtube.com\/embed\/Mhm8buV3lVs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<h2 style=\"text-align: justify\"><span style=\"font-weight: 400\">The Next Step of the Brazilian Development Bank<\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The <strong>President of the Brazilian Development Bank, Gustavo Montezano<\/strong>, led the <strong>development and seamless implementation<\/strong> of this project. Based on the current situation, he stated how they are adamant about seeking the help of other <strong>government organizations<\/strong> for this specific task. He believes that the whole process would be streamlined considerably if there are more people acting together as a <strong>whole<\/strong>.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Furthermore, Montezano also came forward with an explanation of how they believe to establish a <strong>working prototype for testing purposes<\/strong>. Later on, this move would inevitably serve as the basis for <strong>third parties<\/strong> to develop applications on the network.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-48149\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/bitcoin-g726b0063e_1920-1.jpg\" alt=\"blockchain in brazil\" width=\"699\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The network has been under continuous development ever since <strong>2018<\/strong>. However, it is hoped that the <strong>first applications<\/strong> will be available somewhere in the <strong>middle of 2023<\/strong>. Based on the reports by the Brazilian Development Bank, it is fairly easy to deduce that the network would work in a different way. The <strong>requirement<\/strong> of having crypto assets in order to use the network as well as applications would no longer be necessary.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">In addition to this, the network would provide the users with an <strong>opportunity of creating tokens<\/strong> as well. On the other hand, there seems to be a looming issue of <strong>regaining the trust of Brazilians<\/strong> within the state institutions. However, shifting the<strong> public processes<\/strong> on a <a href=\"https:\/\/crypto-economy.com\/how-blockchain-finance-is-shaping-the-world-of-currency\/\">blockchain<\/a> is expected to reduce, or solve this issue to a considerable extent.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Experts believe that the Brazilian Blockchain Network has the tendency to ensure more <strong>efficiency, transparency, and security<\/strong>. It will help in remodeling different organizations to fetch <strong>improved results<\/strong>. Thus, there is a lot of hype about the <strong>integration<\/strong> of this technology.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To increase public transparency in different institutions, the Brazilian Development Bank has launched the Brazilian Blockchain Network. The Court of Accounts of the Union helped in the launch of the project. In addition to this, the organization is urging other similar institutions to lend their support for the whole project. They believe that the success &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"The Brazilian Development Bank Initiates a Blockchain Network\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/the-brazilian-development-bank-initiates-a-blockchain-network\/#more-48146\" aria-label=\"More on The Brazilian Development Bank Initiates a Blockchain Network\">Read more<\/a><\/p>\n","protected":false},"author":22,"featured_media":48148,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,111,74],"tags":[4628,4656],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48146"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=48146"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/48146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/48148"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=48146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=48146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=48146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}