Brazil launched its first ever blockchain association today, the Brazilian Association of Cryptocurrencies and Blockchain (ABCB). The project was started by Brazilian Fintech Atlas
Project aims to bring more regulation, debate, and progress to the cryptocurrency/blockchain space in the country, which the association feel is underdeveloped and underregulated.
Brazilian organizations have had mixed feelings about Bitcoin in the past, with the Brazilian Central Bank going so far as to compare the entire currency and network to that of a pyramid scheme.
However, there are those with more positive feelings towards the growing trend – Sao Paolo School of Economics, a Brazilian university, made history earlier this month by launching the world's first ever cryptofinance masters degree.
Atlas Project, the Brazilian fintech that launched the ABCB plans to launch other similar projects in the future to take global cryptocurrency and blockchain innovations and developments and integrate them into the Brazilian space.
The project is run by Brazilian entrepreneur and finance expert Fernando Furlan who held a previous role as president of the Brazilian Administratior Council for Economic Defense, (CADE) an independent agency reporting to the Ministry of Justice. Furlan has been involved in anti-deforestation projects as well as holding senior roles in the Ministry of Development, Trade and Industry, the Brazilian National Development Bank, and many more.
Furlan’s experience and high profile will help legitimize the project as well as ensuring competent leadership. The goal is to raise awareness of blockchain tech use cases as well as introducing more regulatory measures in the space, although the project acknowledges that significant events coming up this year such as the World Cup and the Brazilian presidential elections will take priority and delay regulatory efforts for the year.