Brazilian State Unveils Blockchain Platform Primarily For Agro Sector July 13, 2019 July 13, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 13, 2019 by Kelly Cromley

Brazilian State Unveils Blockchain Platform Primarily For Agro Sector

Bahia, a northeastern Brazilian state, has unveiled a blockchain platform to monitor public bidding procedure on government contracts. The blockchain-powered system, named Online Bid Solution (SOL) was supposedly built by Cayenne Technology and Design.

Bids will supposedly be totally transparent and safe with the deployment of blockchain technology.

As per Bahia government, the Brazilian agriculture sector will be the major beneficiaries of SOL. The blockchain system has been created to bridge agriculture related organizations in Bahia with employees and suppliers all over Brazil, and also creates openness on the contract bidding process.

Bahia has pointed out that there are more than 1,000 associations which are anticipated to use SOL:

“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.”

Minasul, the Brazilian coffee farming cooperative, has disclosed plans to launch a blockchain token for farmers involved in coffee plantations. In return for harvesting coffee beans, farmers will receive tokens as rewards. Tokens can be used for buying a variety of products.

This is supposedly a lucrative arrangement for the farmers as it avoids the process of registration in notary’s office.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.