As the trend around cryptocurrency keeps progressively growing in the financial industry, the leaders from various fields and spheres have started to show trust in the digital currencies. 

The municipal government of São Paulo, Brazil, has partnered with a blockchain network to manage its public works projects. This initiative has strengthened the span of DLT platforms even more.

As per the news, the Municipal Secretariat of Urban Infrastructure and Works has collaborated with Constructivo, a blockchain firm, to develop a solution for maintaining the records of public works more easily and efficiently.

A Remedy to Prior Inefficiencies

“It is imperative that data from all construction work assets in the city of São Paulo or from ongoing projects be available online to any decision-maker. Process and document management takes place in real-time from anywhere,” said the President of Constructivo, Marcus Granadeiro. 

He also said that he is confident that this blockchain ecosystem will enable the concerned stakeholders to have proper access to the information and the data of the project. 

The sole reason for the application of blockchain technology is due to the failure of prior projects, which caused the closure of roads, bridges, etc., even when the projects involved a large amount of public taxes in the construction work.

Granadeiro stressed that using the decentralized technology for maintaining the records of public work projects would enable them to detect any source which can potentially cause a problem after completing the concerned project. He believes that blockchain technology provides and gives access to fixed records of all relevant data.

Using Blockchain in Public Administration by Governments

Using the blockchain-based network for public administration purpose by different government arms has enabled wide-scale applications in Brazil and various other countries. Industry experts believe that this initiative by the municipal government of São Paulo will positively boost the adoption of blockchain technology.

To make the best use of applications of blockchain technology, the Brazilian federal government is looking to create a draft bill which will depict all the arms of local public administration offices for implementing new technologies.

Earlier this month, as reported by Blockchain Magazine, Maharashtra, India’s second-largest state has started to create a regulatory sandbox to test various applications of blockchain to use in different sectors, namely, marketing in agriculture, supply chains, management of documents, and vehicle registrations.