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Sao Paolo Introduces Blockchain Into Data Access Law – Regulation Bitcoin News

The Brazilian city of Sao Paulo introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be useful in this area, but the city has not defined the structures or the implementation for its use in the future.

The law of Sao Paolo introduces the concept of Blockchain

Gradually, more and more use cases of blockchain, which is part of the technology behind cryptocurrency, are being adopted by institutions around the world. The city of Sao Paolo included the concept of blockchain in its recently adopted Municipal Data and Transparency Law as a technology that can be used to help the state accomplish its tasks.

In the legislation, blockchain is defined as an immutable ledger that can record transactions and track assets using a computer network. Although technology is cited as a useful tool, the law does not define how it can be exploited to make data access and transparency-related tasks more efficient.

This has led some experts to believe that the inclusion of this definition in the law is only accidental, as the document does not indicate any method of implementation. On this subject, Marcelo Castro, lawyer for Machado Meyer, Told O’Globo:

Institutions recognize blockchain as beneficial to the economy, however, there is no specific command as to how the technology will be used in a timeline, and it carries a huge risk of straying into a dead letter of law.

Incoming innovation

However, the lawmakers behind the document have defended the approach they have taken to including new technologies in the law. Maria De Carli, the author of the regulation, defended the generic way the law mentions blockchain. De Carli told local sources that the law should not give strict use cases for the technology, as these must be discussed with the city executive.

De Carli mentioned several uses of blockchain technology under the law, such as helping detect cases of corruption and ensuring compliance of public servers, as the technology allows a public view of every transaction.

At the national level, other initiatives of this type are also underway. In May, the Brazilian Development Bank spear the Brazilian Blockchain Network, a blockchain project that aims to serve as a foundation for other public institutions to build their decentralized applications to increase public service transparency.

What do you think of the inclusion of blockchain in Sao Paulo’s data access law? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, entering the cryptosphere when the price spike happened in December 2017. Having a background in computer engineering, living in Venezuela and impacted by the cryptocurrency boom at the social, it offers a different point of view. on the success of crypto and how it helps the unbanked and underserved.

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