To the cryptocurrencies (digital currencies) emerged 13 years ago with the launch of Bitcoin. The initial promise was to replace paper money, however, that is not what happened. Currently, they are mostly used as assets (goods that can be traded). In that sense, the Brazil plans to launch Real Digital to move the economy. Check out the news!
Read more: Cryptocurrencies in 2022: See if it's still worth it
see more
Low-wash: more and more people say goodbye to washing machines
Learn how to interact with Bard, Google's new chatbot and competitor…
The new currency is being designed to greatly modify the operations of the Brazilian economy, as happened with the launch of Pix in 2020. In general terms, the Real Digital will be used to make payments, transfers and withdrawals and will have the same value as the real in bills and coins.
If the population accepts the idea well (as happened with Pix), it is possible that physical money be less and less used, and in this way, Real Digital will recover the initial meaning of the cryptocurrencies. See below for details on how this currency is programmed to work.
The Central Bank (BC) intends to create a virtual wallet for the new currency, which will be under the custody of an agent authorized by the BC, such as a bank or other financial institution. Thus, the idea is that operations with Real Digital take place through this authorized institution.
The currency can also be used for investments, and the initial idea is that its values are stored in savings in the respective digital wallets. In addition, Real Digital can still be converted into bank deposits and physical reais.
The expected impact of Real Digital on the economy is that of greater ease combined with more efficiency in various services, especially with regard to the use of technologies for financial transactions, such as the blockchain, an economy based on tokens widely used by fashion, sports and games companies.
The main difference between physical money and Real Digital is that the latter will allow new business models within the global economy, after all, the world is increasingly technological. Therefore, the incorporation of smart contracts and greater flexibility in the use of money will be possible.
