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Olá pessoal!
This week’s interview is with Gladstone Arantes, Blockchain Specialist at BNDES (Brazil’s national development bank). We discuss the groundbreaking Brazil Blockchain Network (RBB in Portuguese) project, which is a public-permissioned blockchain aimed at enhancing transparency and trust in government operations.
Key Highlights:
RBB is a public permissioned blockchain that allows public read access while restricting transaction validation to authorized entities
The project aims to address the global issue of declining trust in institutions, particularly acute in Brazil
Diverse stakeholders include BNDES, Federal Court of Accounts (TCU), several state-level entities, and research institutes
RBB is built on Hyperledger Besu, the same technology as the Drex CBDC project being developed by the Brazilian Central Bank. This means there will likely be future interoperability between the two networks.
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Potential public sector use cases and applications of RBB include:
Tracking public funds
Verifying educational diplomas
Managing organ transplant waitlists
Key Takeaways:
Trust Through Transparency: RBB seeks to rebuild trust in government operations through operational transparency and "compliance by design" via smart contracts.
Decentralized Governance: The network's diverse participants enhance its decentralization and trustworthiness.
Balancing Act: RBB aims to balance the need for transparency with regulatory compliance and data protection.
Scalable Solution: While focused on Brazil's needs, the project could potentially offer solutions to trust issues faced by developed nations.
Gradual Implementation: The team is taking a measured approach, prioritizing security and proper governance over rapid scaling.
Challenges and Next Steps:
Expanding network participation
Enhancing security and availability
Addressing data protection concerns
Developing legal frameworks for broader participation
This project represents a significant step towards leveraging blockchain technology to enhance government transparency and efficiency. As the RBB continues to develop, it could serve as a model for similar initiatives worldwide.
For more information, visit the RBB GitHub repository or connect with Gladstone on LinkedIn.
Have a great weekend everyone!
-AWS
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Episode #120: Brazil's Blockchain Network with Gladstone Arantes of BNDES