The Central Bank of Brazil (BCB) has created a blockchain-based platform Pier to exchange information between financial regulators of the country, according to CoinDesk.
The decision will allow government agencies to share information without the participation of the Central Bank. The platform stores data using cryptographic signatures, which prevents the interference of third parties. Also in the release, the BCB stated that the blockchain provides an opportunity to build a horizontal information system and to ensure permanence of data.
The launch platform is scheduled for late 2018.
Earlier, the Central Bank has tested this solution in four platforms — Ethereum, Quorum, Hyperledger Fabric and Corda. Latest controller tested in November 2017. However, according to representatives of Bank, BCB suspended work because of the “immaturity” of technology.
At the moment it is unknown which platforms will be based Pier.
ForkLog previously reported that a Brazilian investment company, XP Investimentos, is going to launch brokerage bitcoin platform.