BuildCoin and FAMURS Ink Agreement to Privatize Public Lighting Leveraging Blockchain Technology

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The BuildCoin™ Foundation, developer of a blockchain ecosystem to originate and execute strategic infrastructure projects, and FAMURS, the Federation of Cities from the state of Rio Grande do Sul, Brazil, today signed an agreement to develop a feasibility study to establish a privatized public lighting backbone for Smart City development in the state.

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The BuildCoin™ Foundation, developer of a blockchain ecosystem to originate and execute strategic infrastructure projects, and FAMURS, the Federation of Cities from the state of Rio Grande do Sul, Brazil, today signed an agreement to develop a feasibility study to establish a privatized public lighting backbone for Smart City development in the state.

Rio Grande do Sul, a state located in the southern region of Brazil, is comprised of 497 cities and is the fifth most populated state in Brazil with a population of over 10 million. Under the agreement, BuildCoin and the Federation of Cities will work together to produce a technical, legal, commercial and financial study to privatize the municipal lighting. The objective of the feasibility study will be to assist municipal authorities and state officials in developing a world class feasibility study quickly, and in such a way that the project is bankable – and available to equipment and services providers throughout Brazil and the world.

Using an innovative approach to developing feasibility studies, BuildCoin will utilize its ideation crowdsourcing platform to tap into global infrastructure and smart city experts that can provide knowledge on innovative technologies and implementation approaches that can be leveraged on the public lighting project. In addition, the BuildCoin blockchain platform will be utilized to track project payments and performance during project execution bringing full transparency to the flow of money.

“We are excited to be teaming with the Federation of Cities for the state of Rio Grande do Sul,” said John Cronin, president, BuildCoin Foundation. “With this partnership we are applying an innovative approach that brings the best ideas to fruition, saves the state money, improves public safety and brings much needed transparency to infrastructure projects. This project will serve as a template that we can leverage for public lighting projects around the globe.”

About the BuildCoin Foundation:

The BuildCoin Foundation is a non-profit provider of a blockchain ecosystem for public infrastructure and construction projects based in Zug, Switzerland. Our BuildCoin Ecosystem modernizes infrastructure project origination and execution. Our blockchain platform offers transparency and immutability, process integrity and disintermediation, lower costs and faster transactions, and access to high-quality data to participants. Visit http://www.buildcoinfoundation.org.

Media Contact:
David Stout, Media Contact
david.stout@buildcoinfoundation.org
M: 703-300-2191

About the Federation of Municipalities of Rio Grande do Sul:

Federação das Associações de Municípios do Rio Grande do Sul (FAMUR) is the association of the municipalities comprising 27 regional associations representing all 497 Gaucho cities in Rio Grande do Sul. The association brings together mayors, deputy mayors, secretaries, technicians and municipal public management bodies. Visit http://www.famurs.com.br/

Media Contact:
Arnildo Schildt
schildt@schildt.com.br

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David Stout
@BuildCoinFound
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