Brazil Launches Blockchain-Powered Digital ID System

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Brazil is on the verge of a major technological shift, with the government announcing that over 214 million Brazilians will soon have access to digital identity through blockchain technology. The project, developed by Serpro (Brazil’s national data processing service), will be rolled out in Rio de Janeiro, Goiás, and Paraná and should be available across the entire country by November 6.

Alexandre Amorim, president of Serpro, believes that the immutability and decentralization of blockchain technology make it the ideal solution for the country’s digital identification project. He stated that “Blockchain technology plays a critical role in protecting personal data and preventing fraud, offering a more secure digital experience for Brazilian citizens. Utilizing the b-Cadastros blockchain platform significantly enhances the security and reliability of the National Identity Card project.”

This unified identity system is intended to help the federal government combat organized crime, make it easier for citizens to access services, and streamline administrative records. Argentina’s capital city, Buenos Aires, has also recently announced a similar digital wallet-based identity solution.

The Brazilian government also revealed more information about their central bank digital currency (CBDC) in August, now known as Drex. This tokenization system will allow businesses to access capital more easily, but the Drex code also allows for a central authority to freeze funds or reduce balances.

In conclusion, the introduction of blockchain technology is set to revolutionize the way Brazilians access and use identity documents and digital currency. It will offer a more secure digital experience, streamline administrative processes, and make it easier for businesses to access capital.

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