cryptonews.net
Chainlink has joined Plexos Institute and EDinheiro in a project to expand financial access in Brazil through locally issued blockchain social currencies. The partnership will begin in Indiaroba, Sergipe, with the launch of the Aratu currency, serving a community of about 18,000 residents, many of whom earn incomes from small-scale shellfish harvesting.
Social currencies are issued by municipal or community banks and used for local payments and aid distribution. EDinheiro’s platform, which already supports more than 180 social currencies in Brazil, will handle the issuance and management of Aratu. Chainlink’s technology will provide secure links between local data systems and blockchain operations, allowing automated reporting, audits, and compliance with Brazil’s data-protection rules.
The project is an official use case on the Blockchain Brazil Network (RBB), a public infrastructure created by the Federal Court of Accounts and the National Development Bank. RBB aims to improve transparency and efficiency in public programs; Plexos Institute is an associate member and validator on the network.
By adding Chainlink’s connectivity and security, the partners plan to make social currencies more transparent and easier to manage. The Indiaroba initiative is expected to serve as a model for similar programs in other regions, helping local governments distribute aid and stimulate economic activity in underserved areas.
Image: Freepik