How Cardano is Set to Transform Brazil’s Public Sector

Cardano looks set to transform the Brazilian public sector.

On Thursday, March 6, the Cardano Foundation, a non-profit tasked with driving the network’s adoption, disclosed that it had inked a deal with Brazil’s Serviço Federal de Processamento de Dados (SERPRO), which literally translates to the Federal Data Processing Service.

It is the world’s largest state-owned information technology company established to bring transparency to government revenue and spending.

SERPRO’s collaboration with the Cardano Foundation has two focus areas.

First, it will focus on blockchain education. Specifically, the Cardano Foundation said it will open its Cardano Academy program to SERPRO’s 8,000 employees. It will also host masterclasses and other educational events.

Secondly, SERPRO will integrate the Cardano network with its services. This will enhance SERPRO’s transparency and service delivery, Cardano Foundation CEO Frederik Gregaard said.

SERPRO’s planned integration of the Cardano network could offer one of the biggest instances highlighting blockchain’s potential beyond finance and speculation.

The state-owned firm powers more than 750 digital solutions, processes over 33 billion transactions annually and manages over 30.4 petabytes of data.

Meanwhile, the SERPRO collaboration is not the Cardano Foundation’s first carimbo in Brazil. In December 2023, the non-profit announced a partnership with Petrobras, Brazil’s multinational petroleum corporation, to educate its staff on blockchain technology.

Despite the recent news, Cardano’s native token ADA is trading at $0.88, representing a 7% decline over the past 24 hours. 

The decline comes as market participants digest the implications of President Donald Trump’s executive order to stockpile digital assets, which dispelled hopes that the government would buy the assets to hold in reserve.