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The Central Bank revealed details about the real's replacement, also clarifying rumors about the future of PIX.
The Central Bank's statement took many people by surprise when it confirmed the development of Drex, known as Real Digital, a digital currency that promises to further modernize Brazil's financial system. This has led to doubts about the future of cash and even rumors that PIX's days are numbered. However, financial institutions say that this is not the case.
This week, Caixa Econômica Federal and the Central Bank have joined forces to release news about the real's replacement, the Drex. The digital currency, which is in the testing phase, promises to change the way financial transactions are carried out in the country, and its impact goes beyond the issue of physical money, as many consumers fear the end of PIX. But don't worry! PIX is not going to disappear; on the contrary, it remains firm as one of the most popular forms of payment.
Drex is being tested with the aim of becoming Brazil's official digital currency
According to Central Bank statement, Drex is being tested with the aim of being Brazil's official digital currency, allowing fast and secure transactions, mainly with the use of smart contracts and blockchain. The idea is that, over time, people will stop using physical money and migrate even more to digital alternatives.
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"Digital currency will enable greater integration of financial services, bringing more security and convenience to transactions. Drex will be a new option, but PIX will continue to be a force to be reckoned with”, said a spokesperson for the Central Bank. In other words, it is not time to say goodbye to PIX, which continues to be an essential tool for millions of Brazilians.
Bradesco, Caixa, Banco do Brasil, Nubank and Santander, who are betting heavily on the success of Real Digital
O Drex, which has been called a substitute for the real, is undergoing an advanced testing phase, and according to information from Suno Investimentos, the project involves several consortiums and financial companies. Among them, giants such as Bradesco, Caixa, Banco do Brasil, Nubank and Santander, which are betting heavily on the success of Real Digital.We are excited about the possibilities that this new currency can bring, and the impact will be positive for both customers and financial institutions,” said Maria Rita Serrano., president of Caixa.
Central Bank says project is underway
So far, Drex There is no official release date yet, but it is making great strides. According to the Central Bank, the list of projects under development includes 13 specific themes, including financing of international operations, transactions with real estate and automobiles., and even optimization of the foreign exchange market.
Advances in blockchain and the use of smart contracts are the main highlights of this innovation. According to the president of Banco do Brasil, Tarciana Medeiros, Drex will further modernize the banking system, allowing a better experience for users.. “The adoption of blockchain will facilitate everything from large transactions to everyday transactions, with unparalleled security and speed,” commented Tarciana.
Even with this exciting news, it is still unclear how much the real's replacement will directly impact the use of physical money.. The expectation is that, over time, paper money will be used less and less, but the Central Bank's statement assures that this will be a gradual process. The population will have time to adapt and, in the end, Drex will be just another alternative in the menu of payment options.
PIX continues to be the darling of fast transactions
While Drex advances in its testing phase, with the participation of major market players, PIX continues to be the darling of fast and free transactions in Brazil. The truth is that the Central Bank's statement brought more clarity to the country's financial future: we are not talking about the end of PIX, but the arrival of yet another option to make our transactions even more modern.
It is important to remember that Drex is in a pilot phase.
For those who are eager to see the real's replacement, it is important to remember that Drex is in a pilot phase, involving 16 consortiums or companies such as Itaú, Bradesco, BTG Pactual and even Microsoft. The expectation is that the digital currency will bring about a true revolution in the banking sector, but until then, the path is to closely monitor the news and wait for it to become official.
The fact is that, with Drex, the future of finance in Brazil promises to be even more digital.. The Central Bank is optimistic, financial institutions are preparing, and consumers will soon have a new way to carry out their transactions quickly, safely and technologically.
And you, are you ready for this digital future with the real's replacement or do you still prefer good old cash?
