• The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law.
• The law defines blockchain as an immutable ledger that can record transactions and track assets using a computer network.
• Legislators behind the document defended the approach they took to include new technologies in the law, arguing that the generic way in which it mentions blockchain allows for flexibility in the future.
The city of Sao Paolo has recently taken a significant step towards embracing innovation by introducing the concept of blockchain in its municipal data access and transparency law. This law defines blockchain as an immutable ledger that can record transactions and track assets using a computer network. This allows for secure, transparent and auditable access to data.
The inclusion of this definition in the law is due to its potential to help the state complete its tasks more efficiently. The technology can be used to ensure that data is secure, accurate and easily accessible. Additionally, the use of blockchain can prevent data tampering and unauthorized access.
However, while the law mentions the concept of blockchain, it fails to define any implementation methods. This has led some experts to raise the possibility that the inclusion of this definition in the law is just accidental. On this, Marcelo Castro, a lawyer for Machado Meyer, said: “Institutions are recognizing blockchain as beneficial in the economy, however, there is no specific command saying how the technology will be used within a schedule, and this brings an enormous risk of going astray in a dead letter of law.”
Nevertheless, legislators behind the document defended the approach they took to include new technologies in the law. Maria De Carli, the author of the regulation, argued that the generic way in which the law mentions blockchain allows for flexibility in the future. This allows for the city to decide how and when it will be used, depending on the needs of the state and the development of the technology itself.
The municipality of Sao Paolo has taken a positive step towards innovation by including the concept of blockchain in its data access law. This move will allow the city to embrace the benefits of the technology while also allowing flexibility to implement it in the future.