The state of Bahia in Brazil recently launched a blockchain-based application that is expected to track bidding of government contracts by the public.
According to reports, Bahia created a blockchain-based solution dubbed “Online Bid Solution” (SOL). The application, created by Cayenne Technology and Design, is aimed at making the bidding process secure and transparent. Notably, the Regional Development and Action Company (CAR) and the Department of Rural Development (SDR) helped CAR in creating the application.
In addition, the app will also “facilitate and expedite the access of associations and cooperatives of the family agriculture of Bahia to suppliers of goods, services and works, from all over the country, and enable transparency in their acquisitions.” According to reports, the app is now available in Apple (iOS) and Google (Android).
While making the announcement, the government explained that among the key beneficiaries of the SOL project would be the Brazilian agriculture industry. In addition to transparency, the project is designed to connect suppliers and workers with agriculture organizations in the country. The government further explained that this project is expected to benefit over 1,000 organizations. Bahia added in the announcement:
“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 the Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank.”
All proclamations, minutes, and contracts will be generated automatically from the stored data on the blockchain.
In the last half of 2019, Brazil has been very active in the crypto and blockchain space. Last month, the Brazilian government launched a regulatory sandbox for blockchain and fintech. This support has seen many industries rise to use these technologies to better their operations.
Last week, Minasul, a Brazilian coffee farming corporation announced that it plans to issue a cryptocurrency for the industry. According to reports, Minasul’s president, Jose Marcos Magalhaes, stated that coffee supplies in the country would back the token. He explained that farmers would use the token to buy farm supplies, including fertilizers and farm machinery.
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