A recent research by Research and Markets, as reported by Coinrevolution, shows that the public sector is increasingly embracing Blockchain. The study reveals that Blockchain uptake in government circles will grow by a CAGR of 70% in a half decade.
In the latest case of Distributed Ledger Technology uptake in government circles, the Municipality of Sao Paulo Brazil has liaised with a tech firm to develop a Blockchain system. In the deal, Construtivo, will device a Blockchain-powered platform for maintaining a register for public works. This system will consequently, enable the Sao Paulo secretariat for Urban Infrastructure and Works to operate in an open-source environment.
Driven By Need For Accountability
The municipal government of Sao Paulo, Brazil, has been grappling with challenges of managing its records in a sound system. This issue has been most profoundly negatively impacting the Urban Infrastructure and Works departments that is vital for the city’s operationalization.
For example, vital infrastructure such as bridges and road had to be closed after being shrouded in mystery following lack of records. This failures have been leading to loss of scarce funds as well as wastage of time in delayed project completion.
However, the challenges are deemed to end in the short term after the secretariat in charge of Infrastructure and Works services collaborated with Construtivo. The Blockchain firm will consequently build and deploy a Blockchain platform that is customized for Sao Paulo’s unique needs.
Most importantly, the basic aim of the project that is now in its proof of concept phase is to facilitate accountability. This accountability will be enhanced by the creation and deployment of the expected open-source network of ledgers on all transactions.
Hosting Data In An Open-Source Platform
Blockchain allows a network of servers to be available online. In this technology, one computer, acting as a server, can access transactions from other computers that form the ecosystem. These computers are independent and hence act as individual servers in what is technically referred to as a distributed model. This system hence becomes decentralized as there is no central server.
Additionally, Blockchain platforms have protocols and features such as smart contracts that enable the ecosystems to achieve consensus between peers. The protocols also act a s system of checks and balances for authenticating and validating on-platform transactions.
In this perspective, the Blockchain platform from Constructivo will allow players in the works department to undertake multilateral registry maintenance. Their activities will be managed by on-platform protocols that validate all transactions to create a string of immutable records.
Marcus Granadeiro Is Spearheading The Project
The Constructivo chief, Marcus Granadeiro, is confident that the end platform would allow stakeholders to access relevant information in real-time.
One immediate benefit of the Blockchain platform is that it will consolidate project data and facilitate auditing of public investments. Another benefit is that the information will enable Sao Paulo to troubleshoot deficiencies on infrastructure for proper maintenance.
Meanwhile, President Jair Bolsonaro’s government is contemplating drafting a bill that would compel Brazilian local authorities to adopt emerging technologies.