The Brazilian Blockchain Network, a public and distributed blockchain, has been launched.
The launching event was hosted by the Brazilian Development Bank and the Court of Accounts of the Union.
Gustavo Montezano, the president of the Brazilian Development Bank, who is in charge of the development of the network, stated that the next step for the Brazilian Blockchain Network would be to get out of the lab structure and establish a working production prototype, so other third parties can focus on building apps on the network.
The network is still in its experimental stages in the laboratories of these institutions, and is expected to present working applications by 2023.
One of the biggest problems that this network seeks to solve is the distrust that Brazilians have of state institutions.
Wesley Vaz, who is a director of the Information Technology Inspection Department of the Court of Accounts of the Union, believes that moving public processes to a blockchain, and making them follow established constraints can help with this issue.
While the network has been in development since 2018, the Brazilian Development Bank just started releasing details about its technical operation recently.
In March, Gladstone Arantes disclosed that the design of the network would be based on a proof-of-authority consensus mechanism, with no mining on top of the chain. At the time, he also revealed that the project would use Hyperledger Besu 2.0 as its base.
