🇧🇷 This Brazilian bank Is using Ethereum to Issue a stablecoin
The Brazilian National Social Development Bank, a state-owned bank in Brazil, has announced a pilot program to issue a token backed by the Brazilian Real. The BNDES token will be built on top of Ethereum ($ETH) with help from firms like ConsenSys. To prove the use case the bank will issue tokens to the National Film Agency to create and promote movie productions in Brazil. With a history of corruption scandals involving misallocated funds the pilot will tie in electronic identification certificates to prove how funds are used hoping it will bolster trust in state-owned banks.
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