The Central Bank of Brazil has unveiled the 14 successful applicants to participate in the Brazilian Real pilot project. For example, Visa, Microsoft and Amazon Web Services (AWS) will join the developments of this prototype central bank digital currency (MNBC).
Brazil reveals who will participate in the development of the digital real
This week, the Central Bank of Brazil unveiled the list of companies who will integrate the pilot project for the development of digital reality. Following a call for expressions of interest which received 36 applications, the institution selected proposals for 14 projects.
Among the companies selected, we can cite Amazon Web Services (AWS), Visa, Microsoft or even Santander, to take just a few examples with the most well-known names. We can also highlight the presence of Nubank, a Brazilian online bank in which Warren Buffet had invested through his company Berkshire Hathaway.
👉 To go further — Find our guide on central bank digital currencies (MNBC)
For now, this central bank digital currency (MNBC) project is only in its infancy, and should not see the light of day for several years. Indeed, the “RD pilot”, as this development phase is called, only consists in a way of developing a prototype :
“The RD pilot is the test phase of operations with digital real, in a simulated environment, without involving real transactions or amounts. At this stage, the Central Bank will assess the programmability benefits of a multi-asset distributed ledger technology platform for operations with tokenized assets. »
It should be noted that companies will not necessarily operate alone, but may for example come together to carry out a common project. This is, among others, the case of AWS, which is part of a group of 11 other companies, organizations and banks.
Furthermore, the first projects should start participating in the work in mid-June.
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Source: Central Bank of Brazil
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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