Hassan Maishera
On Tuesday, the Chainlink team announced via X that they have partnered with Plexos Institute and EDinheiro to democratize financial access for underserved communities in Brazil by launching blockchain-based social currencies.
Issued locally by Brazilian municipal community banks, these social currencies leverage tokenization to boost local production, consumption, and financial inclusion for historically underserved populations.
The Chainlink Runtime Environment (CRE) provides the necessary connectivity between offchain data and blockchain-based operations, enabling automated, verifiable processes for community reporting, usage audits, and compliance with Brazil’s data protection laws (LGPD).
The project is set to launch in the city of Indiaroba, Sergipe, with the Aratu social currency, establishing a replicable model for other regions across Brazil.
Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is down 2.3% over the past 24 hours, trading at $17.79 at press time.
