BNDES and TCU launched the Brazilian blockchain network which could also change the RG for NFT as an introduction to Metaverso and Web3.

BNDES and TCU launched the Brazilian blockchain network which could also change the RG for NFT as an introduction to Metaverso and Web3.

The National Bank for Economic and Social Development (BNDES) and the Federal Audit Court (TCU) announced on Monday, 30. Official launch of the Brazil Blockchain Network (RBB) at the TCU Hall in Brasilia / DF.

As stated during the event, Gustavo Montezano, President BNDES, RBB S.There will be a Tier 1, Proof-of-Authority (PoA) based network in which validators will be both public and private entities..

Furthermore, as a Layer 1 blockchain network, The network will allow other authorized entities to create decentralized applications on the network.

“The RBB has the power to revolutionize the way the state works. The blockchain’s goal is to improve public services, provide greater security for public servants at all levels and citizens in all areas,” Montezano said.

In addition, he said, in order to participate in the network, interested parties, public officials, states and municipalities, or private sector organizations, must sign a cooperation agreement. Thereafter, they may develop MVP applications aimed at sharing data and information across all participating components..

Also, according to Montezano, expect BNDES and TCU are the first decentralized applications to work on RBB by 2023.

Speaking during the event, Minister Aroldo Cedraz highlighted the RBB participants Study how non-fungal tokens (NTFs) can function as user identification systems in Web 3.0 and Metavers.

“I have no doubt that we need to immediately start studies and projects for the implementation of digital identities in the NFT with the possibility of issuing such identity decentralization. To make our digital services more compatible with Metavers and Web 3,” he said.

RBB operation

According to Leonardo Albernaz, Secretary General External TCU, the RBB aims to promote the modernization of the exchange of information in various spheres of government, as well as between public institutions, individuals, private companies and citizens.

“We need new collaborative processes and new processes in public administration,” he said.

According to Albernaz, the RBB will allow the creation of different daaps based on the improvement of public services and will also allow applications for the purpose of decentralized finance (DeFi), thus acting as a layer of trust for various artists in the public sector. Private

Albernaz said the RBB would be based on proof-of-authority (PoA – proof of authority, free translation) and that there would be 3 types of participants with different weights in the network’s governance system.

  • Protectors: Only TCUs and BNDES in this category, which have voting and veto power, will be responsible for managing RBB’s valid nodes.
  • Affiliate participants: who will also be responsible for certifying nodes and participating in the network with voting power
  • Partners Participants: There will be those who can use RBB’s blockchain resources, but will not participate in the network consent authentication core.

The Secretary General of External Control TCU also stated that the network will not have its own tokens and does not require any crypto-assets to provide fees or other services on the network, however the network may allow the creation of tokens, provided they are authorized by the governing system and public service And are related to efficiency.

A blockchain network for all public services

TCU President, Minister Anna Ares, highlighted that the digital transformation that public administration is undergoing is a current and unchangeable reality, and that the RBB is the result of this transformation and that public administration processes need to be improved.

“The use of blockchain enables greater protection, transparency and integrity in public databases, as well as the audibility of data entered into the network. RBB is a national and non-profit national network designed to facilitate many organizations. The contribution of blockchain technology to public services” He said.

According to Minister Anna Ares, the network already has other participating organizations and, among others, BNDES and TCU, RNP, Serpro, Dataprev, CPQD, among others, is already part of the RBB.

Yet on RBB, recently during Ethereum.Rio, Gladstone Arantes, head of blockchain initiatives at BNDES, highlighted that the project is based on initiatives from other nations in Latin America, Europe and Spain.

“What has happened and is still happening in the Brazilian government is that, with each use, it builds its own infrastructure and network. It blocks innovation. It’s like we’re going to build Google, but first we have to build the Internet. Why, after discussing with our partners, We saw the need to create a single structure and that is what we are doing with Red Blockchain Brazil, “he said.

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