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

According to Odaily Planet Daily, São Paulo, Brazil's economic center, has announced the launch of a pilot project to provide microloans to farmers using blockchain technology. The plan aims to improve the efficiency and transparency of credit allocation while reducing administrative costs, thereby helping agricultural producers, especially small and medium-sized farmers, access financial support more easily. This move marks a further exploration by Brazilian local governments in applying Web3 technology to the real economy and improving the agricultural financing environment. (CoinDesk)