2023-08-09 11:50:47
O Banco Central finally defined it as “drex” the name of the new real digital. This digital currency should lower operating costs, but it should still take time to be released, with an expectation that this will happen by the end of 2024. With the launch of the official name of the first digital currency in Brazil, a series of doubts regarding its differences in relation to the Pix have emerged. In this article, understand what Drex is and how it will work.
What is Drex?
Drex: what is how will the real digital work?
O drex and the official digital currency from Brazil. It represents the Brazilian real in the digital environment, allowing financial transactions to occur more efficiently and securely. Unlike cryptocurrencies, Drex will not be subject to the volatility associated with supply and demand. It will be issued and controlled by the Central Bank of Brazil, guaranteeing stability and reliability in its value.
Each letter of your name has a meaning. See below:
D – represents the word “digital”
R – represents the “real”
E – symbolizes the word “electronics”
X – conveys the idea of modernity, the same effect as Pix
How will it work?
Drex is nothing more than a virtual representation of the physical real. Brazilians will be able to exchange Drex for physical currency and vice versa, using virtual wallets provided by financial institutions. The technology blockchaina series of codes stored on several computers, will guarantee the security of transactions and the possession of virtual wallets.
Unlike Pix, which is often used for commercial transactions and is subject to security limits, Drex will be more flexible. It can be used for acquisitions of goods such as vehicles, real estate and government bonds. Its use promises to simplify the financial life of Brazilians.
Drex vs Cryptocurrencies
Although it can be confused with a cryptocurrency, Drex has nothing to do with this type of asset. While cryptocurrencies operate in a decentralized system and are often issued by independent projects, Drex is issued by the Central Bank of Brazil, which makes its use and release centralized and subject to the monetary policies established by the institution itself.
Furthermore, Drex will not be as volatile as cryptocurrencies, as it will always be equivalent to the physical real. This guarantees that it is a stable system for the daily lives of Brazilians.
Drex x Pix
Drex will not replace Pix.
Compared to Pix, the instant payment system already in use in Brazil, Drex offers greater flexibility regarding the type of transactions it can carry out. While Pix is used for everyday transactions, Drex will allow the acquisition of higher value goods, such as real estate and vehicles.
Drex will not replace Pix, but rather complement the country’s payments infrastructure, offering broader and more versatile options. To get an idea, it will be possible to make a Pix using Drex, allowing you to transfer or receive the digital real in your wallet.
participating banks
Drex already has the support of several financial institutions. Some of the institutions that are involved in the project include Bradesco, Nubank, Banco Inter, Santander, Itaú Unibanco, XP, Banco BV, Banco BTG and many others. See the complete list:
Bradesco Nubank Banco Inter (in collaboration with Microsoft and 7Comm) Santander (together with Santander Asset Management, F1RST and Toro CTVM) Itaú Unibanco Basa (in partnership with TecBan, Pinbank, Dinamo, Cresol, Banco Arbi, Ntokens, Clear Sale, Foxbit, CPqD, AWS and Parfin) SFCoop (Ailos, Cresol, Sicoob, Sicredi and Unicred) XP (together with Visa) Banco BV Banco BTG Banco ABC (in collaboration with Hamsa and LoopiPay) Banco B3 (including B3 and B3 Digitas) ABBC ( involving banks Brasileiro de Crédito, Ribeirão Preto, Original, ABC, BS2 and Seguro; together with ABBC, BBChain, Microsoft and BIP) Banco do Brasil
Eager to start using Drex? Leave your comment below!
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