Roberto Campos Neto, president of the Central Bank (BC), said this Monday, 27th, that the pilot project of the Real Digital will be released in March. The project indicates that the digital currency will be working by the end of 2024. According to Campos Neto, the advantage of this change will be for Pix. The pilot project consists of the initial ideas to implement the digital currency in Brazil, which will be launched in March. Keep reading and learn more.
Real Digital pilot project
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The Real Digital is a project of the Brazilian currency in the virtual model. Methods will be tested and updated so that the currency is effectively implemented in the Brazilian market.
The growth of cryptocurrencies is being talked about and observed by the world's major economies, which has encouraged central banks to issue their own virtual currency. If it seemed something distant for Brazil, reality may be closer than we imagine.
The digital currency of the real will have the same value as the banknotes, and can be converted through bank deposits. It will have purchase value, it will be useful for personal transfers and settlement of account debits, such as virtual transfers that are already carried out.
Release scheduled for March
In March, the president of BC announced that they are going to launch the pilot project, the first steps for the technology to be inserted in the Brazilian currency. While participating in the IDP Summit event, Campos Neto stated the intention of the Central Bank:
“Next month we will already have a digital currency pilot, Brazil will be one of the first countries to do this. We are moving forward with the pilot as we become more confident”.
Real Digital will be fully launched by the end of 2024 next year. For now, analyzes are being made of the product offered on the market and how the new measures similar to cryptocurrencies are being applied.
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