Update (02/27/2023) – EB
A few days ago, the president of the Central Bank (BC) stated that the Real Digital pilot project was ready to be launched, but a date for the start of its execution had not yet been revealed. Now, Roberto Campos Neto, who chairs the BC, revealed that the project will enter the practical phase in March this year, in addition to other goals for the currency.
economy and market
13 Jan
economy and market
12 Jan
The statement was given by the BC president at an event held at a university in Brasília (DF). At the conference he said:
In terms of next steps, next month we will have the pilot working, so next month we will already have a digital currency pilot, Brazil will be one of the first countries in the world to do this
Campos Neto says that the goal is for Real Digital to be fully operational for the public by the end of 2024, as it is necessary to guarantee security regarding the platform, which is only possible with practical tests.
The leader of the Central Bank explained that the project is being developed in partnership with several institutions and will bring several benefits, such as:
- Reduced cost of intermediation;
- More efficiency;
- Digital inclusion;
- Easier monetization.
Basically, take a deposit, block it and issue a token on top of that deposit. If it is a tokenized deposit, it inherits all the regulation of the deposit. This means a lot, imagine making a whole new regulation.
In this way, the Real Digital tends to be an extension of the current currency in Brazil, which is why it will be issued by the Central Bank, which will maintain its custody and distribute it to partner banks to pass it on to Brazilians, as already happens with the Real.
economy and market
30 Dez
economy and market
16 Dez
This means that the traditional Real can be exchanged for the Digital Real without any problem. The quotation once morest other currencies will also be the same and there will be no remuneration for automatic correction of resources.
Campos Neto also pointed out that Real Digital will have all the measures of legal security, privacy and cybersecurity to prevent fraud in operations. Finally, banks will not be allowed to lend Real Digital resources to third parties and then return them to customers, as already occurs with the physical Real.
Original article (02/15/2023)
Real Digital: President of the Central Bank says that the pilot project is ready to be launched
O Real Digital pilot project appears to be ready to be implemented. At least that’s what the president of the Central Bank of Brazil, Roberto Campos Netohe said during a presentation at the BTG Pactual CEP Conference 2023 this Tuesday (14). According to him, “It will start right now”.
Previously, the institution even announced the creation of its own blockchain for the digital version of the money that circulates in Brazil. In general, it is configured as stablecoins and its value is linked to that of the physical model of our national currency and will be born meeting the requirements applied in the financial sector, in addition to complying with BC rules.
economy and market
20 Out
Tech
09 Dez
Campos’ mandate will end at the end of this year, but the implementation of Real Digital is his priority. In this sense, he also the idea of integrating the Pix as Open Finance and furthermore, linking them to the digital currency that does not yet have an exact release date.
In general, the novelty aims to facilitate financial transactions made by people on a daily basis, in addition to reducing operational costs involving money. In this way, it will be possible to insert smart contracts and modernize the financial system as a whole.
The details of the implementation of Real Digital are all in an article by TudoCelular that will explain everything you need to know regarding the digital currency. Despite not having a date, it is expected that the digital version of the money will be available next year.
