State Of Bahia launches Blockchain platform for Government contract Bids

State Of Bahia Launches Blockchain Platform

State Of Bahia Launches Blockchain Platform

The state of Bahia in Brazil has launched a blockchain application to track the process of public bidding on government contracts.

The blockchain-based solution, called Online Bid Solution (SOL) was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secured with the application of blockchain technology.

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The intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The is aimed to help connect agriculture organizations in Bahia with suppliers and workers throughout Brazil, as well as provide transparency on the contract bidding process. According to the state of Bahia, there are over 1,000 organizations projected to use SOL:

“The application, already available in the Play Store and the Apple Store, will be used by about 1,100 agricultural associations and cooperatives in the states of Bahia and Rio Grande do Norte, under the Bahia Productive and Governo Cidadão, financed through a loan agreement between the state governments and the World Bank.”

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