The Central Bank of Brazil will test payment with digital real money offline
The central bank of Brazil has chosen the French company Giesecke+Devrient (G+D) to jointly test its own digital currency (CBDC) for payments in the absence of the Internet.
Marisa Regini, Vice President for Digital Business and Technology Development at the Bank of Brazil, said that during the testing, options for using the digital Brazilian real (Drex) in situations where there is not even an electrical connection will be explored. In the future, this will allow payments to be made using CBDC in emergency situations, when cash is usually the only means of payment.
One of the main goals of the project is to expand access to financial services for Brazilians with limited Internet access. Now cash is the second most popular payment method in the country after the PIX instant payment system. Among most Brazilians, cash is considered the most preferred payment method. The central bank plans to launch Drex by the end of 2024.
"Thanks to Drex, it will be much easier for people to make payments. Brazilians will be able to use the service in their daily lives by paying for purchases at local stores. At the same time, you will not have to open a bank account or connect to the Internet," explained the top manager of the Bank of Brazil.
Last year, the Central Bank became the sole regulator of the cryptocurrency industry in the country – the central bank has the authority to license crypto companies. Later, the regulator promised to tighten supervision of the industry in order to combat tax evasion and other illegal activities.
Source: https://bits.media/tsb-brazilii-protestiruet-oplatu-tsifrovym-realom-oflayn/
