Brazil has launched a pilot program utilizing blockchain technology in public real estate auctions to enhance transparency and prevent fraud. The initiative, overseen by the Court of Accounts of the State of São Paulo (TCE-SP), involves logging auction documents for ten state-owned warehouses. Companies Nordeste Leilões and InspireIP are implementing cryptographic sealing to ensure data immutability.
This pilot is part of Brazil's broader regulatory efforts, including the Legal Framework for Crypto Assets and new anti-money laundering rules for digital asset providers. These measures aim to support liquidity and strengthen the country's crypto markets.
Brazil Pilots Blockchain in Real Estate Auctions to Boost Transparency
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