The Brazil central bank boss sees CBDC's potential, arguing that if every country has a digital currency that it could connect digitally, we can "have achieved the goal of having a common currency."
Facing technical difficulties and privacy concerns, Brazil's CBDC launch falters following the central bank's indefinite suspension of LIFT Lab, causing a pushback of the pilot to May.
DREX is an acronym for digital real electronic transactions, with its logo depicting two arrows that signify the evolution of the real to a digital environment.
Participating financial institutions will be selected based on their previous experiences with distributed ledger technology with a preference for the Ethereum network.
The experiment was conducted by digital currency exchange Mercado Bitcoin and Stellar protocol designed to promote low-cost and real-time settlement for users.
The group will investigate the implications of a central bank digital currency (CBDC) on the country’s economy, among other things.
