Improvement of the banking sector of Brazil with the help of the blockchain

R3’s Corda for Central Bank of Brazil. Brazil’s Central Bank announced to work with R3’s Corda DLT platform. The change in the solution was caused by the appearance of the final version of the Corda 1.0. The bank is now developing four different proofs-of-concept: Quorum, Hyperledger Fabric, Ethereum and Corda. It is assumed that the adoption will make possible to enhance the work of backup copying of bank settlement systems in real time. Aristides Andrade Cavalcante Neto, the deputy head of the IT department at the bank said: ‘’We are a central bank, and we enjoy a lot of stability. But you have to think change. You have to think in a different business model. So, for us, that’s the most difficult part of this kind of work when we’re talking about innovation’’.
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