The Federal Government plans to launch the digital real soon. This conversation took place over the past year and, by all indications, by the end of the year this plan will be implemented. This information, in fact, was confirmed by the president of the Central Bank of Brazil, Roberto Campos Neto.
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In this sense, what will be tested is the idea of the viability of a digital currency issued by the Central Bank itself, a kind of cryptocurrency that will differentiate itself from Bitcoin or Ethereum, since the issuance will be linked to the management of the BC, and not to a blockchain decentralized.
In view of this, it is important to point out that this type of asset is understood as a stable digital currency due to the characteristic of having as a reference the value of another asset, which can be a fiat currency or an asset physicist. Therefore, in this case, the reference used will be the system used by Brazil for fiduciary payments, the STR (Reserve Transfer System), obviously using the real as a reference.
According to the official, in statements quoted by the Cointelegraph website, “this [using the STR in the Real Digital] is a way to create the digitization of currency without creating a break in the balance sheets of banks”.
In addition, Brazil also entered the discussion about the cryptocurrency market. The Federal Government has been discussing these procedures in a process that has lasted about a year. The digital real is estimated to be launched in the fourth quarter of 2022.
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