In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12.

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

According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with suppliers and workers throughout Brazil, as well as provide transparency on the contract bidding process.The state of Bahia said that 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.”

As previously reported by Cointelegraph, the Brazilian coffee farming cooperative Minasul announced plans to issue a blockchain token for coffee farmers. Farmers will reportedly be able to earn tokens as a reward for harvesting coffee beans, and use the proceeds to purchase a variety of goods. This is purportedly a useful economic system for the farmers, since this method of financing does not require registration in a notary’s office.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Cryptocurrency market update: Bitcoin and major altcoins lethargic in tight ranges

The cryptocurrency market stays in the red zone after an unsuccessful recovery attempt on Saturday, July 20 followed by Sunday's sell-off. Bitcoin and all major altcoins are nursing losses with the notable exception of Cosmos, Tezos and Ethereum Classic.

More Cryptocurrencies News

Litecoin price analysis: LTC/USD stalled at $100.00

Litecoin has been sidelined for the recent four days, capped by SMA100, currently at $102.76. The fourth-largest digital asset with the current market capitalization of $6.2 billion has gained nearly 10% in recent seven days to become of of the best-performing coins out of top-10. 

More Litecoin News

Ethereum price analysis: ETH/USD bulls gather breath before another assault at $230

Ethereum, the second-largest cryptocurrency with the current market capitalization of $24.2 billion, settled above $225.00; however, the further recovery is limited. ETH/USD is moving in lockstep with Bitcoin (BTC) and the rest of the cryptocurrency market ...

More Ethereum News

EOS price analysis: EOS/USD bulls strengthen their grip

EOS is rising in value during the weekend European session. The upward correction is welcome following the recent dip to $3.30. The last couple of days have seen the buyers fight tooth and nail to come out of the bear range.

More EOS News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast

BTC

ETH

XRP