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Brazil Launches Revolutionary New Digital Currency That Will Definitely Not Be a Total Disaster (Or So We Hope)

A stylized illustration of a Brazilian flag with digital currency symbols (coins) bursting out from it, surrounded by swirling lines that evoke the concept of decentralization. In the background, subtle images of computers and financial charts hint at the technological underpinnings of Drex.

Brazil’s latest experiment: because what could possibly go wrong with creating a digital currency that solves the ‘trilemma’ of decentralization, privacy and programmability? I mean, it’s not like we’ve seen this movie before… or have we?.

Source: cointelegraph

Brazil is incorporating decentralized finance (DeFi) principles into its development of an in-house “synthetic” central bank digital currency (CBDC), Drex, which was previously called the Brazilian digital real.  Roberto Campos Neto, president of Banco Central do Brasil, highlighted the country’s need for a multidimensional CBDC that addresses the “trilemma” of decentralization, privacy and programmability — challenges that traditional markets have struggled to resolve.   While presenting on Oct. 3 for a […]

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