São Paulo Implements Blockchain Technology in Data Access Law
São Paolo, Brazil, takes a step towards utilizing blockchain technology with the addition of it in its municipal data access and transparency law. Although defined as a potential solution, the city has yet to establish a clear plan for the implementation and structure of blockchain usage for the purpose of improving government operations.??
According to the recent legislation, blockchain is deemed as a secure ledger system, capable of recording transactions and monitoring assets through a computer network. Despite being acknowledged as a valuable tool for enhancing data accessibility and promoting transparency, the law remains vague about the limits of the technology's utilization.
Some experts suspect that the recent addition of a blockchain definition in the law may have been accidentally added, as the legislation lacks any clear instructions on how to implement the technology. Marcelo Castro, a lawyer for Machado Meyer, expressed his concerns to o'Globo, saying, "While various institutions are recognizing blockchain as beneficial in the economy, however, there is no specific command saying how the technology will be used within a schedule, and this brings an enormous risk of going astray in a dead letter of law."
Legislators defend including new tech in law; author Maria De Carli defends the law's generic reference to the blockchain. De Carli highlighted several applications of Blockchain technology in the legal field, including detecting corruption and ensuring compliance with public servers, thanks to the technology's ability to offer a transparent view of each transaction.
This move shows how countries and institutions are gradually recognizing the numerous benefits of blockchain, which is best known as the backbone of cryptocurrency. The inclusion of blockchain in the city's law is aimed at improving the state's ability to carry out its duties efficiently.
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