The implementation of the Brazilian digital currency, known as Drex, is advancing on the national scene with the potential launch projected for 2025. Currently, the Central Bank is conducting the second phase of the pilot project, involving financial institutions to validate aspects related to user privacy and security.
In the National Congress. Senators discuss the impacts of this innovation. Including legislative changes that must accompany the adoption of resources such as smart contracts.
What is Drex?
Previously called digital real, Drex received its rcs data official name in 2023, when tests began in a controlled environment, known as Drex Pilot. The choice of the name combines the initials “d” and “r”, alluding to digital real, the “e”, referring to electronic, and the “x”, which symbolizes connection, highlighting the use of advanced technologies.
Despite progress in testing, there is still no definitive date for the launch, as the conclusion of the experimental phase will be decisive for the final decision.
Drex operation and regulation
Drex will have parity with the physical Digital agile methodology: what is scrum for website development currency Drex real, being regulated by the Central Bank and made available exclusively through its digital platform. The system will allow financial transactions to be carried out with digital assets, offering security and efficiency in operations.
To use Drex. Citizens will need an authorized financial intermediary. Such as banks or other regulated institutions. Responsible for converting the amounts deposited in current accounts to digital wallets linked to the currency.
Drex’s main innovation lies in its
technological basis. The currency will be “tokenized,” that is, represented by digital tokens that will be registered in a distributed ledger technology (DLT) infrastructure.
This system allows simultaneous access
validation and updating of data in a bahrain lists decentralized network, ensuring transparency and security in operations. It works in a similar way to blockchain. A technology that supports cryptocurrencies. Using cryptography to connect information and ensure the reliability of transactions.
In addition to financial transactions. Drex can be used in complex operations. Such as the execution of smart contracts. Which automate processes based on previously established conditions. This functionality promises to simplify negotiations and increase the efficiency of financial services.
Impacts and perspectives
Experts highlight that the introduction of Drex represents a milestone in the national financial system. Enhancing the digitalization of the economy and facilitating access to modern financial services.
However, challenges such as regulating new Digital. Currency Drex practices and ensuring digital inclusion must be addressed for digital currency to reach its full potential.