Brazil's Central Bank Builds Blockchain Platform To Share Data Among Regulators

Brazil’s Central Bank Builds Blockchain Platform To Share Data Among Regulators

Cryptocurrency Blockchain

Brazil's Central Bank Builds Blockchain Platform To Share Data Among Regulators

 

  • The Brazilian regulatory authorities are set to use a blockchain-based technology platform developed by the IT department of the Central Bank of Brazil (BCB) for the speedy and secure exchange of information between them.
  • The platform called the Information Integration Platform for Regulators (Pier) will be operational at the end of 2018.

Brazil's Central Bank Builds Blockchain Platform To Share Data Among Regulatorscrypto At A Glance 

Brazil's Central Bank Builds Blockchain Platform are set to utilize a blockchain-based innovation stage created by the IT branch of the Central Bank of Brazil (BCB) for the fast and secure trade of data between them.

The stage called the Information Integration Platform for Regulators (Pier) will be operational toward the finish of 2018.

Dock will be utilized to fortify supervisory data trade amongst BCB and different controllers of the Brazilian Financial System (SFN, for example, the Superintendence of Private Insurance, the Securities and Exchange Commission of Brazil, and the National Pension Funds Authority.

"With Pier, any member will have the capacity to recover information very quickly, and the stage will diminish mistake frequency by disposing of manual procedures of information recovery and sharing. Dexterity

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