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BC of Brazil selects Hyperledger Besu for Pilot Project | BBChain
The Brazilian Central Bank announced this week that they have chosen the blockchain-based platform, Hyperledger Besu, to power their digital currency pilot project, the Real Digital.
The Brazilian Central Bank announced this week that they have chosen the blockchain-based platform Hyperledger Besu, to power their digital currency pilot project. This is a major milestone for the blockchain industry and is a clear sign that more central banks and financial institutions are exploring the potential of distributed ledger technology (DLT).
The project aims to create a digital payment system using Hyperledger Besu, which is an Ethereum-based enterprise blockchain platform. The project will also use other technologies such as Zero Knowledge Proofs (ZKP) and Homomorphic Encryption (HE). These technologies will help ensure data privacy and protect users' sensitive information.
How BlockchainLab can help you to use Hyperledger Besu and accelerate your onboarding on Real Digital?
At BlockchainLab we are well-equipped to help organizations accelerate their onboarding process by using Hyperledger Besu and other Blockchain technologies. Our team of experts can provide organizations with the guidance they need to get started with the platform, as well as all the tools and resources needed to ensure a successful deployment of their Real Digital payment system. You can build your Hypeledger Besu network in just five minutes, focusing your efforts on the use case and using all the expertise of BBChain, which accompanies several financial institutions to develop your SmartContract.
What is Hyperledger Besu?
Hyperledger Besu is an open-source Enterprise Ethereum client developed by the Linux Foundation’s Hyperledger project. It supports both public networks such as Mainnet and private networks such as Quorum Network. It also supports smart contracts on both Ethereum and Quorum networks, allowing developers to write applications in Solidity.
Hyperledger Besu provides various features, managing private transactions known as enclaves, such as privacy protection using ZKPs or HE, permission access control for networks with advanced user roles management, scalability with support for sharding protocols like Istanbul BFT, etc. It also supports various pluggable consensus algorithms such as PoA (Proof of Authority) or PoW (Proof of Work).
The project also comes with built-in compliance features that allow it to meet all necessary legal requirements in different jurisdictions across the world. This makes it attractive to financial institutions looking to explore DLT in their operations.
What Are The Benefits Of Using Hyperledger Besu?
There are several advantages of using Hyperledger Besu compared to other DLTs available on the market today. Firstly, it offers a secure infrastructure that enables organizations to build trustless applications without having to worry about security vulnerabilities or attacks from malicious actors. Secondly, its modular architecture allows users to customize the platform according to their specific needs and requirements. Thirdly, its high performance ensures that transactions can be processed quickly without any delays or bottlenecks in processing times. Finally, its compliance features make sure organizations remain compliant with all applicable laws and regulations when deploying DLT-based applications on top of Hyperledger Besu.
The announcement from Brazil's Central Bank signals an important milestone for both blockchain technology and digital currencies in general. As more financial institutions explore DLT solutions like Hyperledger Besu for their projects, we can expect more widespread adoption of distributed ledger technology shortly. This could lead to increased efficiency and cost savings across various industries – particularly those related to finance – while still ensuring data privacy and security remain intact at all times. We look forward to seeing how this deployment affects not only Brazil but other countries around the world who are exploring similar solutions for their own financial systems!
Available on Azure Market Place!
By utilizing BlockchainLab BBChain's services on the Azure Marketplace, customers can easily create a Hyperledger BESU network using their Azure subscription. BBChain offers an intuitive interface to allow users to easily purchase and configure their BESU network. Users can also take advantage of BBChain's configuration and development services to help them with the implementation of their projects. These offerings include features such as creating smart contracts, managing identities and integrating with other systems. All that is needed is an Azure subscription and users are ready to be a part of the DLT revolution!
BBChain CEO - André Carneiro at MTC - Microsoft Technology Center - São Paulo - Brazil .
About BBChain and BlockchainLab!
BBChain can help companies to use Hyperledger BESU with their experts in addition to providing BlockchainLab a SaaS platform that helps companies to create and manage decentralized networks and applications with governance and security on Hyperledger Besu and other Blockchain platforms. So your companies can focus more energy, time, and resources on the business cases and less on the technical details of the technology while gaining scale and knowledge to exploit the technology of tomorrow, today.
1) Banco Central inicia testes com plataforma do real digital
2) Coletiva - Real Digital - 06/03/2023