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Bendev Junior
Bendev Junior

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Real Digital: What to expect from the Central Bank's new digital currency?

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Hey guys! Are you aware of Real Digital, the new digital currency that the Central Bank of Brazil will launch? The idea is that it has a #blockchain system based on Ethereum, with Smart Contracts and everything. This will allow the currency to be used in smart contracts, which will make everyone's life a lot easier.

But there is one detail: the Central Bank wants to have a very large control over the currency, which can be a problem for those who are used to the decentralization of cryptocurrencies. For example, Ethereum has an open and decentralized network to validate transactions, but in Real Digital, this will be done by agents authorized by the Bank, including financial institutions approved by the organization.

The objective of the Central Bank is to have a Digital Payment System, linked to the already existing SPB, but focused on the Central Bank Digital Currency (CBDC). With this, the financial assets transacted within the blockchain will be tokenized in order to allow their movement through the closed network.

With the implementation of Real Digital, a greater approximation of the DeFi market and Smart Contracts is expected, allowing direct transfers of funds to citizens without the need for bank intermediaries. Furthermore, the pilot project should be launched later this year, allowing the Central Bank to refine the system before its official launch.

To meet these needs, Real Digital will need to be integrated with digital payment systems and tokenization of financial assets. It will also be necessary to develop a secure and scalable platform for carrying out large-scale transactions.

However, the benefits of implementing Real Digital are many. In addition to allowing faster and safer transactions, the new Central Bank digital currency will be able to integrate the DeFi (decentralized financial) market and allow the creation of new financial and commercial applications based on smart contracts.

That's it guys! Real Digital is coming and promises to be a revolution in the Brazilian financial market.

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