Brazilian state launches blockchain platform for government contract tenders

In Brazil, the state of Bahia launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12.

The blockchain-based solution, called Online Bid Solution (SOL), was developed by Cayenne Technology and Design. According to reports, the offers will be completely transparent and secure thanks to the application of blockchain technology.

According to the government of Bahia, the intended beneficiaries of SOL appear to be the Brazilian agricultural industry. The solution is designed to help connect agricultural organizations in Bahia with suppliers and workers throughout Brazil, as well as to provide transparency in the contract bidding process. The state of Bahia said that there are more than 1,000 organizations designed to use SOL:

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

As previously reported by Cointelegraph, the Brazilian coffee-growing cooperative Minasul announced plans to issue a blockchain to coffee producers. Reportedly, farmers will be able to earn tokens as a reward for harvesting coffee beans and using the proceeds to buy a variety of products. This is a useful economic system for farmers, since this method of financing does not require registration in a notary’s office, according to the report.

Some governments are making attempts to modernize the economy, it is a good way to generate trust and transparency. Tenders have a good tool, as is blockchain-bitcoin. It is waiting for new announcements.

Reference: cointelegraph.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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