Brazil has been embracing Blockchain technology recently and has taken another step in that direction. They have launched Online Bid Solution (SOL) which is a blockchain based platform to track the process of public bidding on government contracts.
The system was developed by a firm named Cayenne Technology and Design, and the application uses the technology blockchain, to save the information on the purchases, with code available for other states to use it. All bidding data becomes available and stored in a digital environment, making the process secure and transparent.
The government of Bahia that the primary target is the country’s agricultural sector. Presumably, the plan is to make sure every part of the industry is connected via a streamlined platform. The press release states:
“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 the Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank.”
This is the second big blockchain news coming out of Brazil in the past few days. Earlier Bitcoin Exchange Guide had reported that the coffee industry in Brazil is embracing the new technologies as Minasul, one of the leading cooperatives for coffee farmers adopts blockchain technology and announces the launch of a digital coin in the next month. The digital coin is expected to be fully backed by the coffee produce and will be traded on a decentralized marketplace for goods related to coffee production.
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