Institutional
2 de ago. de 2024
Compartilhe
The Central Bank (BC) has initiated the pilot program for Drex, Brazil's official digital currency. Understand its objectives and future functionalities of the Central Bank of Brazil's CBDC.
How did Drex originate?
The Central Bank has been exploring the concept of Central Bank Digital Currency (CBDC) for years, aiming to make financial services more efficient and accessible. In 2020, a working group was created to study the issuance of the "digital real." In 2023, the digital real was officially named Drex. Each letter of the name represents a characteristic: Digital, Real, Electronic, and innovation and connectivity (similar to the “X” in Pix).
How will it work?
Drex will enable secure financial transactions with digital assets and smart contracts, settled by banks within the Central Bank's Drex Platform using Distributed Ledger Technology (DLT).
To access the Drex Platform, a licensed financial intermediary, such as a bank, will be required to transfer your deposited money to your Drex digital wallet. Transactions will be secure and automated by smart contracts, concluded only when all conditions are met, bringing security and efficiency.
Advantages of Drex
Automation: Financial services automated by smart contracts, adaptable to customer needs.
Security: Transactions are only completed when all conditions are met, reducing risks.
Inclusion: It will expand financial possibilities without replacing existing alternatives.
Lower costs: New financial service providers and business models will emerge at lower costs.
Drex places Brazil in the global financial innovation scenario, replicating the success of Pix and serving as a reference for new developments in the sector. Additionally, Drex can help increase the financial inclusion of underbanked and unbanked people.
Frequently Asked Questions
What is the difference between Pix and Drex?
Pix is an instant payment method, while Drex is the digital version of the real, which can be used for making Pix, transfers, and payments.
How much will a Drex be worth?
1 Drex will correspond to 1 real.
When will Drex be implemented?
The implementation is in the testing phase, with an expected launch at the end of 2024 or the beginning of 2025.