Digital Real: Innovation lab tests begin in the first months of 2022. Photo: Adriano Gadini, Pixabay.
Mercado Bitcoin, the protocol and decentralized finance (DeFi) Aave, Consensys, Santander, Itaú, B3, Visa, R3 and the Brazilian Federation of Banks (Febraban) are among the institutions that will participate in the tests of possible solutions for the digital real. This will be the Central Bank’s digital currency (CBDC). A total of 9 out of 47 proposals were selected.
The solutions range from decentralized loans, in the case of Aave, to the tokenization of real estate and vehicles, in the Santander project, and rural finance with stablecoin linked to the real, in the case of Vert. The tests are part of Lift Challenge Real Digital organized by the BC and the federation of BC servers, Fenasbac.
The selected proposals are:
- Aave – “which gathers resources from several savers, that is, forms a liquidity pool, to offer loans and guarantee the adherence of these operations to the rules of the financial system, using DeFi tools”, explained the BC.
- Banco Santander – deals with delivery versus payment (DvP, delivery and payment almost immediately) and tokenization of the right to own vehicles and properties;
- Febraban – DvP of financial assets;
- Gieseck + Devrient – offline payments;
- Itaú Unibanco, B3 and R3 – international payments with payment x payment (PvP) in an application with Colombia;
- Bitcoin, Bitrust and CPqD Market – Digital Asset DvP, with a focus on cryptoassets;
- Tecban and Capitual – logistics for e-commerce based on IoT techniques;
- VERT, Digital Assets and Oliver Wyman – rural financing based on programmable tokenized assets with value linked to the real (real stablecoin); and
- Visa do Brasil, ConsenSys and Microsoft – financing of small and medium businesses based on a DeFi solution.
“Given the high number of projects of relevance and interest for the development of the real digital initiative, the selection process sought a balance between the diversity of the portfolio of proposals presented to the laboratory and the need for detailed monitoring of the chosen projects”, he said. the BC.
The 43 companies that submitted proposals are from Brazil, Germany, the United States, Israel, Mexico, Portugal, the United Kingdom and Sweden. “This portfolio will allow the participants of the Lift Challenge Real Digital and the Central Bank to come across the main issues relevant to the implementation of the digital real to debate them in order to deepen their understanding, mature business models based on this technology and, thus, , continue the process of creating a digital currency that can add functionalities to our payment and settlement systems, generating benefits for the whole society”, said the BC.