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Serpro Creates Blockchain Network for Brazil’s Revenue Service

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Brazil’s Revenue Service relies on Serpro to develop a solution that uses blockchain technology to guarantee the authenticity of the information shared between Brazil and partner countries.

“The exchange of information between countries is constant and needs to be swift, efficient and secure. What is written in blockchain, as it is said, is written in the stone, does not commit adultery “, explains Sergio Alencar, auditor of Brazil’s Revenue Service.

BCONNECT allows the network-sharing of registration information of companies certified by the Internal Revenue Service as an Authorized Economic Operator (OAS) and enjoying benefits such as facilitation of customs procedures, both in Brazil and abroad.

“The companies certified as OAS are listed on the internet, but we needed a system in which it was possible to send the data of the Brazilian companies and at the same time consult the certification of foreign companies, then we present bCONNECT, which is being fed with the Brazilian data in its prototype phase “, details Alencar.

For Ronald Thompson, Revenue Auditor, the advantage of opting for this technology is that it offers a federative model of collaboration among nations.

“No country is superior to another, they all work with smart multi-signed contracts, so it is necessary for these countries, using their digital certificates, to sign an instrument that materializes the bilateral agreement to enter the blockchain,” he explains.

Each member country of the network includes the information related to its OAS companies in the blockchain network. The information is immediately displayed by the countries whose Smart Contract is established.

In the architecture proposed by Brazil, the foreign trade systems will be linked to this network and will be sensitized with the inclusion of new blocks.

For this solution, the blockchain network was developed with the framework Hyperledger Fabric 1.4, an open source application maintained by The Linux Foundation.

“This solution, which is independent of the supplier, allows the data access and visibility rules of the bilateral agreements signed to be replicated in the blockchain network, which is formed by the nodes of the Mercosur countries,” comments Marco Tulio da Silva Lima, an analyst.

After the testing phase, the next step will be the development of the network and the establishment of the Smart Contract between Brazil and Uruguay, to continue with the presentation of the model to the other Mercosur countries