First tests of Real Digital should take place in September, according to BC – Money Times

In all, 47 projects were presented digital real for BC, but only nine were selected. (Image: REUTERS/Adriano Machado)

O central bank should conduct the first tests with the digital real In September.

Although the BC has not made any official statement on the matter, the information is contained in an official presentation made by Roberto Campos Netopresident of the Central Bank, last Friday (26) for the 1618 Spring Investment Meeting.

The initial schedule of digital real predicted that the pilot of the CBDC Brazilian was released this year.

However, in Campos Neto’s presentation, it is stated that the end of project execution is scheduled for January 2023. The postponement of the schedule had to be done due to the strike of the employees of the central bank.

Projects selected for Real Digital

In total, the central bank Brazilian received 47 projects created by 43 different companies. The Laboratory of Financial Innovations and Technology – also called LIFT Challenge – selected nine projects that would aim to develop use cases for the digital real.

According to Campos Neto’s presentation, the projects selected by the BC were: Aave; Banco Santander Brazil; Febraban; Giesecke + Devrient; Itaú Unibanco, B3 and R3; Bitcoin, Bitrust and CPqD Market; Tecban and Capitual; VERT, Digital Assets and Oliver Wyman; Visa do Brasil, ConsenSys and Microsoft.

The nine proposed use cases for the digital real accepted by central bank represent 19% of the total of 47 proposals submitted to the financial institution.

The projects sent to BC present a range of applications for the digital realranging from decentralized finance (DeFi), internet of things (IoT), delivery versus payment (DvP) applications, payment versus payment (PvP) and “dual offline” – payment solution in situations where the two parties involved in the transaction are not connected to the internet. Internet.

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Disclaimer

O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

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