Roberto Campos Neto, president of the central bank, stated the pilot tests for the digital real would be starting 'now,' and that the project was receiving assistance from Brazilian private banks.
The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency , the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future.Brazil is making strides in developing its central bank digital currency , and the design of its architecture.
Campos Neto also commented that the implementation of the currency will make banks keep more digitalized assets as part of their balances. The Brazilian CBDC model implies that each bank will be able to issue this currency backed by regulated deposits.Campos Neto also elaborated on the vision he has for the complete digital financial system that he envisions for Brazil in the coming years.
Neto believes that this platform might change the way in which personal finance is conducted in Brazil today. HeI think these three things can change the history of financial intermediation in Brazil, transforming our system into something efficient, and today in the world there is no one so advanced.how these first tests would be conducted.
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