The Brazilian government will in the coming months reveal a new bill requiring the promotion of blockchain as well as other technologies for public administration processes in the country.
The new bill tagged, PL 3443/2019, and titled Digital Provision of Public Services in Public Administration — Digital Government if approved will require that both local and state government offices will implement blockchain and artificial intelligence among other emerging technologies to improve services rendered to the public.
PL 3443/2019 although directly signed by Federal Deputy Tiago Mitraud, a member of the Brazilian New Party, is also sponsored by nine other Federal officials from other political agencies.
The lower house of the National Assembly of Brazil, thus, will review the blockchain favorable bill amid ongoing efforts by the country to create regulatory certainty for participants in the emerging space.
Late last month, Deputy Rodrigo Maia, President of the Chambers of Deputies of Brazil (Federal Legislature) reportedly requested that the country created a Committee of 34 members as approved by law to look into the matter of regulating cryptocurrencies.
If Brazil were to achieve that feat, it would add up handsomely to the earlier feat of releasing crypto taxation laws back in November, a feat that even the U.S has failed to achieve until now.
The country’s crypto ecosystem as we also reported then witnessed significant growth in the last few years transactions on five major Brazilian crypto exchanges now over 8.3 million reals (around $2.2 million), a figure that surpasses that of some local banks.