Brazilian politicians use Decred to record political donations
Key points to remember
- Decred’s blockchain was used during the 2020 municipal elections in Brazil to timestamp and record political donations.
- 11 Brazilian municipal election candidates have partnered with Voto Legal for transparent fundraising using blockchain technology.
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Eleven candidates in municipal elections across Brazil take advantage Decreed to help track their campaign donations.
2/ The solution used by Boulos-Erundina is Voto Legal. The election campaign crowdfunding platform records all donations on the Decred blockchain.
Status: Over $1.2 million BRL has been raised from 12,000 donors to date.
— Decred Brasil (@Decred_BR) November 17, 2020
Time-stamped political donations on Decred
To record campaign donations on the blockchain, political candidates have partnered with Legal Vote, a political crowdfunding organization. Donations are made in Brazilian real (BRL) via the platform.
After receiving a donation for the politician, Voto Legal records the transaction details and timestamp on the Decred blockchain.
According to information shared with Crypto Briefing, 24,139 donations have been made to the 11 candidates and tracked on Decred since May, totaling $607,373 (BRL 3,261,597).
Voto Legal records the name of the person giving and the amount given along with the date and time. This guarantees the authenticity transactions, promoting the reliability of the electoral donation process.
Voto legal uses dcrtime–a timestamping application that allows them to store hashes transaction data on the blockchain.
“Decred was created to defend individual sovereignty. Our governance system is driven by the collective intelligence of our community to enable truly decentralized decision-making, so it is gratifying to see our technology used in an election, which serves the same purpose,” Jake Yocom Piattthe project manager at Decred, told Crypto Briefing.
The news comes when the blockchain has been suggested to provide greater transparency and security to voting systems.