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Brazil’s Central Bank Plans Blockchain Data Exchange for Regulators

 

On 20th June the Brazil’s central bank will enable the data sharing who has created a permissioned digital ledger platform among financial regulators, reported by  Finextra.

The financial institution, on general authorization processes, the ledger,called the information Integration Platform for Regulators (Pier), ranging the processes to the conduct of employees. If mutual interest is shown the additional information is not related to sanctioning processes.

In end of 2018 the plans will go live which are currently in alpha testing. Pier, developed by the Banco Central de Brasil’s IT department (Deinf), will connect the Securities and Exchange Commission of Brazil (CVM), and the National Pension Funds Authority (Previc).

In a statement of Deputy head of Deinf, Aristides Cavalcante, said that the motivation to develop a blockchain platform will come from the benefits of horizontal information sharing and said adding:

“Furthermore, as the blockchain platform records every data request using cryptographic signatures, it is possible to certify at any moment the authorship, and that no entity has tampered with the data, and thus guaranteeing information authenticity.”

In month of April the the site published that how an Expert Take a presidential cryptocurrency money clean scheme which has led Brazil to implement more blockchain tech, to use the documenting funding on the Ethereum (ETH) blockchain.

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