Announced in 2021, the Real Digital may debut, still in an experimental way, this Thursday (20). The information was revealed by a member of the Laboratory of Financial and Technological Innovations (LIFT), an innovation program of the Central Bank of Brazil and Fenasbac, for the Newspaper. Real Digital will not be a cryptocurrency, but a government-backed currency.
Since the presentation of the currency, the Central Bank has carried out actions with the public and stakeholders to develop the possible uses of Real Digital. O LIFT is one of the actions created and has, among its participants, Itaú, Santander, Visa, Mercado Bitcoin and Febraban.
Real Digital promises practicality and security
Digital currency can generate doubts about what is its difference from a cryptocurrency. In common, the two are digital, “non-palpable”. Although, O Real Digital will be centralized, issued by the Central Bank of Brazil and with a stable value — your R$ 10 digital will be worth R$ 10 macaw. That is, an extension of the physical Real.
A cryptocurrency, such as Bitcoin, is decentralized, needs to be mined and is not backed, functioning more like an investment and presenting high volatility.
An advantage of Real Digital is that the user will not be required to have a bank account to use the money, it will be stored in a virtual wallet. Transaction management will be carried out in some government system – probably from the Central Bank itself – directly with the citizen.
The CBDC also makes it easier to use money for international travel. As much as the PIX is very practical, it only works in Brazil. As Real Digitalthe user will be able to travel and convert the currency directly in the destination country.
On the security side, it is expected that the Real Digital be developed within the blockchain technology. Financial crimes can be monitored in greater detail, allowing enforcement agencies to have a deeper understanding of money flows.
More information about how the Real Digital should be released on Thursday.
With information: Newspaper
https://tecnoblog.net/noticias/2022/10/17/primeiras-unidades-do-real-digital-devem-ser-criadas-nesta-quinta-20/