Sao Paolo Introduces Blockchain in Data Access Law – Regulation of Bitcoin News

The Brazilian city of Sao Paolo has 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 field, but the city has not defined the structures or implementation for use in the future.

Sao Paolo Law introduces the concept of blockchain

Little by little, more use cases of blockchain, part of the technology behind cryptocurrency, are being embraced by institutions around the world. The city of Sao Paolo has included the concept of blockchain in its recently adopted municipal law on data and transparency as a technology that can be used to help the state complete its tasks.

In legislation, blockchain is defined as an immutable ledger that can record transactions and track assets using a computer network. While the technology is cited as a useful tool, the law fails to define in what ways it can be utilized 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 merely coincidental, as the document does not list any implementation methods. About this, Marcelo Castro, a lawyer for Machado Meyer, told O’Globo:

Institutions recognize blockchain as beneficial in the economy, but there is no specific command that says how the technology should be used within a schedule, and this carries a huge risk of going astray in a dead law book.

Incoming innovation

However, the lawmakers behind the document defended the approach they took to include new technologies in the law. Maria De Carli, the author of the regulation, defended the generic way in which the law refers to blockchain. De Carli told local sources that the law should not provide strict use cases for the technology, as these must be discussed with the municipal authority.

De Carli cited several uses of blockchain technology within the scope of the law, such as helping to detect cases of corruption and ensuring compliance with public servers, as the technology allows for a public view of every transaction.

At national level, other measures of this type are also underway. In May, the Brazilian Development Bank launched the Brazilian Blockchain Network, a blockchain project that aims to serve as a base for other public institutions to build their decentralized apps to increase the transparency of public functioning.

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

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, offering a different point of view on crypto success and how it helps the unbanked and underserved.

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