São Paulo, Brazil will launch a blockchain-based microloan pilot project for farmers

The economic center of Brazil, São Paulo, has announced the launch of a pilot project that utilizes blockchain technology to provide microloans to farmers.

The plan aims to improve the efficiency and transparency of credit allocation through blockchain technology while reducing management costs, thereby helping agricultural producers (especially small and medium-sized farmers) to more easily access financial support. This move marks a further exploration by the local government in Brazil into applying Web3 technology to the real economy and improving the agricultural financing environment.