BNDES starts investment in blockchain

in #blockchain • 7 years ago (edited)

Good morning my Steemians friends!

The BNDES (National Bank for Economic and Social Development - Brazil) has partnered with KFW, the German development bank.

Together they will invest in blockchain technology: D

Brazilian banks have been experimenting with blockchain technology with the aim of reducing transaction costs and risks.

Through the blockchain it is possible to distribute data over the network of several connected machines in different locations. Each machine has a copy of the content, which is managed on a shared basis.

This data is stored in blocks of encrypted information which makes it possible to delete information after it has been entered into the system. It also hinders the work of hackers, because every change needs to be validated by several of these machines.

#bank #banco #bndes #introduceyourself
7 years ago in #blockchain by
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