Cardano Announces Big Plans For Brazil’s Public Sector

(Sponsored) Blockchain might be one of the most innovative new technologies, but it is clear that much of its application is limited to the private sector. Specifically, a lot of blockchain’s progress has been tied to the use of cryptocurrency by investors.

Think of tokens like Bitcoin and Ether that are consistently bought by private investors as they continue to turn a profit.

The current trajectory of cryptocurrency shows the same, with presales of upcoming tokens attracting a lot of attention.

As Shraddha writes, the top crypto presales bring in millions of dollars, showing just how dominant the private sector is. However, this might just be changing in Brazil, thanks to the Cardano Foundation.

Cardano to the Masses

While blockchain can be used for things like cryptocurrency, it has a myriad of applications outside of this. For example, blockchain technology allows for permanent record-keeping and the verification of credentials, which has seen use in the education sector.

Then you have things like voting, with an election held via blockchain being nearly impossible to rig.

Many governments have seen the potential of blockchain, and a new initiative by The Cardano Foundation and Serviço Federal de Processamento de Dados (SERPRO) seeks to explore this further. Specifically, the two will work to promote blockchain literacy and drive adoption.

For blockchain to be more widely used within society, consumers and entrepreneurs alike need to know what it is and how it can benefit them. Cardano offers blockchain literacy courses and will be expanding access to this within the Brazilian market.

It is worth noting that Brazil already has a digital asset governance framework, which is considered one of the best in the world. The country regularly ranks as one of the best in terms of blockchain adoption, so such a rollout will likely be welcomed.

SERPRO, on its part, is the state-owned IT company that serves up to 90% of Brazilian governmental computer systems. As such, teaming up with Cardano means that blockchain adoption will be widespread within the public sector.

“Our collaboration with SERPRO represents a transformative step in modernizing Brazil’s public sector infrastructure through blockchain education and technology,” said Frederik Gregaard, CEO of Cardano.

Cardano has certainly had a busy year so far. It saw a brief market spike after it was revealed that current US President Donald Trump has the token in his reserves.

On top of this, there has been a resurgence of the NFT sector, which sees greater use of the underlying blockchain.

Finally, there have been rumors of Cardano getting its own spot ETF, which Bitcoin and Ether secured last year.

But with this partnership, Cardano is pushing beyond just investor acceptance to institutional support.

The State Of Crypto in Brazil

While this partnership with Cardano represents a significant move towards more crypto adoption, the political landscape in Brazil is one that is paying more attention to cryptocurrency as well.

Recently, the Regional Electoral Court of the state of Minas Gerais subpoenaed the political candidate who failed to disclose his crypto Holdings.

The man in question ran for the position of councilor of the municipality of Perdões in the municipal elections on October 6, 2024.

As per Brazilian law, candidates for public office must declare their assets for transparency. However, this candidate did not disclose their crypto purchases, which is a violation of the law.

In the worst-case scenario, he could be charged with abuse of power and even barred from holding public office in the future.

As crypto has become more visible, it is also categorized under the income and assets that candidates must declare, and the candidate in this situation has only days to respond to the subpoena.

It has not been publicly stated how the government found out about his crypto purchase, which reportedly happened in August 2024, but it does have the authority to demand crypto transaction details from exchanges.

Not only are we seeing greater emphasis on crypto within the private sector, but the government is getting involved as well.

From Donald Trump’s plans to create a strategic Bitcoin reserve to the myriad of pro-crypto regulations being passed around the globe, the asset classes are more relevant than ever.

But with this, there is a growing need to define the place of public figures within the crypto sector. Just recently, a bill was introduced that, if passed, would ban public servants in America from releasing their own meme coins.

This came weeks after President Donald Trump and his wife Melania released their own meme coins, which made them millions but lost investors a lot of money after the value crashed.

When this is considered, it is clear that world governments want to create a demarcation between the crypto industry and public officials who wield authority over the public.