One of the most popular Blockchain Consortium R3 has teamed up with the Brazilian fintech startup Banco Maré, to release a stock exchange in the country that's focused on investing in tech startups.

Banco Maré, a blockchain-backed digital bank which focuses on financial integration, plans to develop a tokenized stock exchange that offers investments in technology firms with social impact.

The latest R3 technology-backed platform is known as BVM12, will allegedly open a new funding source for technology startups and allow individual investors to make dividends from investments in new technologies, the report says. 

On one side, they will receive the investment they require to move their businesses forward. While on the other hand, investors will obtain high returns on investment for using their funds to help these firms in the early stages.

Banco Maré is based out in Rio de Janeiro, has held the first informal consultations with the Brazilian Securities and Exchange Commission and is seeking to request permission to direct this project officially in the next month.

CEO of Banco Maré, Alexander Albuquerque has claimed that the new venture plan will democratize the risky investment in the country. He further said that this will allow the low-income public to take part in the stock market.

This indicates that people with no proper financial stability would be gambling in highly risky businesses. This will have a massive impact on their lives and on their entire financial stability as it will be a highly speculative market.

Lately, Brazil is also trying to utilize the potential of Blockchain technology. For example, the government is considering a bill that would need local administrators to take benefit of new technology such as blockchain. Recently, The State of Bahia has also introduced a blockchain app that allows tracking public bidding on government contracts.

Blockchain is becoming highly accepted in the nation. Rio Branco Institute, one of the leading diplomacy institutes in the country, is also requiring diplomat applicants to learn about the blockchain technology.