San Paulo secured the use of blockchain to collect data – Bits Media

Brazilian city of San Paulo, as part of the new local law on access to data and openness, presented the concept of a decentralized register. But how exactly the technology will be applied, the authorities have not yet decided.

In the legislative act under the blockchain The unchanging register is understood, where transactions are recorded and through which you can track the use of different assets based on a computer network. The law is not spelled out, in what cases its use will increase the effectiveness of access to data and the solution of problems, associated with openness.

Some experts of local media are convinced, that the term was included in the law randomly, Since there is no practical application of technology.

“Institutes recognize blockchain technology as a positive factor for the economy, However, there is no clear order on the use of technology, that creates certain risks ", - says the lawyer of Machado Meyer Marcel Castro (Marcelo Castro).

Earlier, representatives of the Brazilian securities commission said, that the regulator should pay special attention to the supervision of the cryptocurrency industry.