Banco do Brasil has expanded its innovation process in emerging technologies, with blockchain being one of the highlights of this process. This is due to the fact that the financial institution created a laboratory to develop applications with distributed data.

With more than 5,000 branches throughout the country, the Bank of Brazil began operations in 1808, when the country was transformed from a colony to an empire. It was the first Brazilian banking institution, showing that it is still focused on change and innovation.

For example, since the end of 2020, Banco do Brasil has been using blockchain technology in the sale of rural properties. Through the AgroBB platform, the technology of startups and traditional companies are combined to offer real estate nationwide.

Bando do Brasil to invest in innovation through new blockchain lab

Last week, Banco do Brasil announced the creation of a blockchain experimentation and innovation lab called Lentes BB. In this environment, it will be possible to train the business areas of the institution, in addition to selecting projects that use functional prototyping technology.

For innovation, GoLedger, a GovTech company of blockchain solutions, will work with banks in the laboratory. Pedro Bramont, director of digital operations at Banco do Brasil, stressed that using the lab for innovation is one of the pillars of the institution's strategy.

“One of the pillars of our open innovation strategy is the activation of innovation labs that focus on identifying and enabling emerging technologies that have the potential to bring efficiencies, new revenues and better experiences to our customers.”

Rodrigo Mulinari, technology director of BB, said that blockchain technology is one of the highlights in creating more efficient processes and services. This shows that the staff of one of the largest banks in Latin America is excited to work with this innovation that accelerates digital strategy.

“Today, blockchain is one of the technologies that allow you to create more efficient, interoperable and secure processes and services. This partnership will allow us to increase the use of this technology, thereby accelerating our digital and technology strategy.”

"Banco do Brasil shows that it remains committed to providing quality services."

In this process, GoLedger, a partner of Banco do Brasil, has the GoLab laboratory, which allows a complete cycle of blockchain services and is the only one in the country that is trying to innovate with this technology.

For Otávio Soares, COO of GovTech, this new partnership shows that the Brazilian bank is committed to maintaining its services at a higher level of quality.

“BB has demonstrated its commitment to continuous service improvement and its vision to place a 200-year-old bank at the forefront of the country’s digital transformation. We are honored to be part of such an important moment.”

In recent years, Brazil has made blockchain a pillar technology of its digital innovation strategy, meaning that the door is open to any public institution that wants to innovate with it.