3 ms·
Thats the thing. Brazil alread does that. I dont know what this brings to the table. I will try to read thoug the documentation and see why the hell this exists
by major505 3y ago
Thats the thing. Brazil alread does that. I dont know what this brings to the table. I will try to read thoug the documentation and see why the hell this exists
- alephnerd 3y agoFound the press release and interview - https://www.reuters.com/world/americas/brazil-announces-pilot-digital-currency-seeking-leverage-financial-services-2023-03-06/ https://www.reuters.com/world/americas/brazil-announces-pilo... "Araujo said the "digital real" will be built as a means of payment executed on distributed ledger technology (DLT), to support the provision of retail financial services settled through tokenized deposits in institutions of the financial and payment systems in Brazil ... Araujo stressed that the concept of the Brazilian central bank digital currency (CBDC) was not intended to leverage digital payments, as this is already being done on a large scale with Pix, which was launched at the end of 2021 and has been widely adopted in Brazil." This appears to be a trial to streamline back office retail banking operations in Brazil. The example they seem to stress is democratizing federal bond sales within Brazil as well as Repo operations.