Cryptocurrencies are increasingly popular in Brazil

Cryptocurrencies are increasingly popular in Brazil - Roberto Campos Neto

If the Venezuela has already launched his Petro andArgentina starts quickly on the road of the digital economy, among Latin American countries it could soon be the Brazil to assume a real leadership in the cryptocurrency sector. Let's go see why.

Brazil towards the regulation of virtual currencies

Brazil is currently one of the most flourishing markets ever in Latin America, in terms of transactions involving cryptocurrencies. Only in the first half of the year, second Bitcoin Portal, trading volume reached 3,7 billion dollars, with 21% growth compared to the same period of the 2018. A position which could even be improved by that regulatory demanded loudly by the industry experts themselves.
From Juliana Assad, co-founder of Coinwise in São Paulo and considered one of the most authoritative voices of the South American country in terms of IT security. His opinion was expressed in relation to the decision taken by Rodrigo Maia, president of the Chamber of Deputies of Brazil, who gave instructions to inaugurate a commission to entrust with the task of establishing a regulatory framework for virtual currencies.
A decision followed by the presentation of a draft law in this sense, proposed by the senator Flavio Arns, who entrusts the responsibility of regulation to Central Bank and the Brazilian Commission for security and exchange (CVM).
With regard to the Central Bank, the appointment of Roberto Campos Net his presidency, which took place at the beginning of the year, was interpreted by analysts as a very favorable signal to digital assets, considered as in the past he himself had sent a letter to the Senate of Brazil with the clear intent to prepare the institution for new technologies.

In Bahia, a Blockchain platform tracks tenders

Meanwhile, initiatives aimed at exploiting the Blockchain are intensifying across the country, as happens in the State of Bahia, who launched a blockchain application thanks to which it will be possible track public tenders for state contracts. The new service, Online Bidding Solution, was developed by the company Caiena Tecnologia e Design, and to use it, according to the regional government, will be mainly the local agricultural industry. The solution was in fact designed to simplify the connection between local agricultural organizations and workers from all over the country, thus increasing the level of transparency of tenders.

Minasul launches his cryptocurrency

Another important initiative is the one planned by Minasul, one of the largest coffee cooperatives in the country. The company, in fact, has decided to launch its cryptocurrency, an operation scheduled for the end of July. Has been Jose Marcos Magalhaes, president of the company, to reveal the company's plan, during an interview given during the Sao Paulo Global Coffee Forum. According to Magalhaes, the token is supported by coffee supplies which will allow farmers to acquire agricultural products including agricultural machinery and fertilizers, as well as cars and food.