Brazil’s Central Bank Develops Blockchain Data Sharing Platform for Financial Regulators
The ledger, called the Information Integration Platform for Regulators (Pier), will be used by regulators to exchange information on general authorization processes of financial institutions, ranging from administrative processes to the conduct of employees.
As a decentralized ledger, blockchain technology was specifically picked by the BSB for providing a ‘horizontal network of information-sharing’ that negates the need for a centralizing entity that could otherwise weld ‘operational hierarchical superiority’ over others, BCB’s IT department deputy chief Aristides Cavalcante explained.
Furthermore, blockchain’s core characteristic of immutability while ensuring that no regulator tampers with any shred of information since every data request is recorded cryptographically guarantees information authenticity, the central bank official said
It’s a significant leap in digitizing and automating communication between regulators in Brazil.
“Currently there is some exchange of information regarding authorization processes, which are not automated yet: staff from one of the institutions contact the others by letters or e-mails,” Cavalcante revealed.” Even the few queries that are automated by software still require some degree of human intervention.”
it's a great step by them
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @haxins, Appreciate your post. Its good to see that these initiatives coming from Central bank of Brazil, Usually banks are little reluctant taking blockchain initiatives. Good to see these king of initiative coming up.
I can relate this to Zebi in India and how they are working with goverment to migrate all the data to blockchain.
All these are positive news. Keep sharing them and big up for your post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Block chain is a new era in itself bro. It will be implemented in maximum fields soon. It has all the advantages to be taken care of.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Bitcoin is future currency
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good stuff shared :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The beauty of blackchain hides in its decentralization, i believe every exchange should also be decentralized since centralied exchanges getting hacked these days
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
yeah it is a good stuff you post here actually am not read full post but am doing just good work for you am giving you an upvote and i hope you will do same with me. thanks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Everybudy except blockchain
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
blockchain is the future and we have safety while using this technology . Only very few people know about blockchain . All should know about it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Blockchain is the future of all transactions, we love this technology all countries are accepted this and will India also.....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Block chain is very powerful in coming days Block chain will use in all field .
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Blockchain is the future. In every field we will see the blockchain technology in future.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Crypto is future. It's great initiate.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
looks like there is no field left without blockchain technology and still bitcoin is suffering.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for presenting about Develops Blockchain Data Sharing Platform for Financial Regulators. It helps other community members as well as me.
But 1 thing I don't understand that why still not 100% safe for the users.!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That's a good platform. Blockchain is a revolutionise t
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Its will happen in everywhere in the future .near future everysystem move to blockchain.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great work and thank u for present blockchain connectivity
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
only india and pakistan ban crypto all countrys regulate bitcoin shame on our countrys govt
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Blockchain is future, no-one can stop this.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Blockchain will be everywhere.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
blockchain really worth in future.
lot of companies and countries adopt blockchain for there projects.
its minimze cost effecient and faster
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice to see ur growth
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Great step by Brazil’s Central Bank. Developing Blockchain Data Sharing Platform for Financial Regulators will boost their economic condition too.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thank you for the informative post.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
According to me all the exchange around the world are required to use ZEBI
platform to share the information about there exchange to government official of different country.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No competetors of bitcoin.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit