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Brazilian Aunt of Central Banks Just Unleashed a Total Disaster: What You Need to Know About Their New Digital Ruin

A futuristic cityscape with skyscrapers and neon lights, but instead of people walking the streets, robots are seen exchanging goods and services using a digital currency token represented by glowing coins or blocks floating through the air.

Brazil’s CBDC pilot is like that one aunt at the family reunion – everyone wants to be involved but no one knows what they’re doing.

Source: cointelegraph

The Central Bank of Brazil is accepting applications for phase 2 of its Drex central bank digital currency (CBDC) pilot project between Oct. 14 and Nov. 29. It is interested in business cases that can be implemented by smart contract in particular. Although there is no launch date for the Drex, the Drex coordinator at the Central Bank Fábio Araújo hinted that the bank is eyeing live tests after this pilot […]

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