The BC (Central Bank) has been studying ways to create a digital currency in Brazil, called the digital real. The agency is carrying out studies to understand how to implement it, according to the Brazilian reality. The goal is to bring an integrated solution that reaches as many people as possible.
“We need to prepare the market to use these technologies, which are still very complex and have a niche use. As we start to discuss the subject, it begins to mature”, says Fabio Araújo, an economist at BC.
Araújo spoke on the subject at South Summit Brasil, a technology and innovation event that started this Wednesday (4th) and runs until Friday (6th), in Porto Alegre (RS).
BC’s focus is on making technologies inclusive. “With the digital real, we intend to offer a platform that can integrate these technologies with the conventional system to give access to a larger audience”, says Araújo.
Projects at the Central Bank
To identify characteristics and obstacles to implementing the digital real, Fenasbac (National Federation of Central Bank Servers) created in partnership with the Central Bank the LIFT Challenge Real Digital, a collaborative environment that has received proposals to implement the initiative.
The group selected nine projects. Among them, there are ideas such as creating a decentralized finance system (DeFi), enabling digital financial transactions, but without internet (both for those who pay and for those who receive), internationalize means of payment, and ways to transform ownership of cars and real estate. in tokens.
“When we look at the projects we have chosen, we are able to cover a wide range of applications to understand how the market will receive the digital real and take the next steps”, says Araújo.
The deadline for executing the projects ends on July 29 this year.
“The laboratory is one of the instruments to better understand and exchange with society. We want to understand how the digital real can help people’s daily lives”, says Rodrigoh Henriques, head of innovation at Fenasbac.