One Brazilian state is in the latest cryptocurrency news for launching a unique blockchain application that will track the process of public bidding of government contracts. As a report showed on July 12, the state of Bahia launched the Online Bid Solution (SOL). Developed by Cayenne Technology and Design.
The bids will definitely be transparent and secure due with the application of blockchain technology. As the government of Bahia said, the Brazilian state beneficiaries of SOL appear to be clients in the Brazilian agriculture industry.
The solution, as described in the best cryptocurrency news sites, will connect agriculture organizations in Bahia with suppliers and workers throughout Brazil. They will also provide transparency on the contract bidding process.
“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 Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank,” the Brazilian state and its government noted.
As we previously reported on our altcoin news site, the Brazilian coffee farming cooperative Minasul recently announced its plans to issue a blockchain token for coffee farmers. With it, farmers will reportedly be able to earn tokens as a reward for harvesting coffee beans. They will also use the proceeds to purchase a variety of goods.
“All bidding information becomes available and stored in a digital environment, making the process secure and transparent,” the statement by the Brazilian state said.
As the official announcement shows, the app also aims to “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.”
All of this leads us to believe that the Brazilian state of Bahia as well as the coffee farming cooperative Minasul are among the first pioneers of blockchain within the country. This will purportedly be a useful economic system for the farmers, since the method of financing does not require registration in a notary’s office.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.