Brazil authenticates 156k documents via blockchain in last four months

Brazil authenticates 156k documents via blockchain, pandemic accelerates technology's adoption
1 year ago
2 mins read

Brazil has authenticated about 156,000 documents through blockchain in a record last four months as the technology’s adoption in the country accelerates.

A statement published by the Association of Notaries and Registrars of Brazil (ANOREG) indicates that the authenticated documents were through the e-Notary system.

The authentication process allows citizens to sign and send documents through electronic platforms like WhatsApp or email to relevant parties, including government institutions.

Brazil’s blockchain system runs on the Notrachain, the country’s blockchain network of notaries. The system enables the verification of documents in a virtual format.

The Notrachain backs services like sales, divorce, donations, inventories, shares, wills, notarial deeds, powers of attorney, among others. The e-Notary system is a product of the 2020 National Corregeduría de Justicia (CNJ) legislation.

Furthermore, the system minimizes travel time for citizens across the country. Users can perform routine tasks that would otherwise require them to travel through video conferencing on any supported electronic device.

Pandemic accelerates blockchain technology adoption

The statement adds that blockchain’s use to verify documents accelerated in the course of the ongoing coronavirus pandemic. In 2020, the authentication surged by at least 24% monthly. According to the statement:

“The demand for the digital document authentication solution using blockchain grew even faster, at a monthly average of 163%, reaching its peak in the last month of February 2021, in which more than 71 thousand pages were authenticated.”

The ANOREG adds that the e-Notary system’s success will encourage more adoption of the technology. Additionally, the body states besides streamlining operations, blockchain technology reduces costs and minimizes bureaucratic procedures.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.