Real digital will generate products so modern that today it is not even possible to predict: Eduardo Arsand, Pixabay.
The Central Bank (BC) will hold, this Thursday (11), a webinar on the use of the digital real in international payments. It will be the sixth event in a series that the regulator is doing to discuss the design of its digital currency, which could be blockchain. Testing begins around the end of March 2022.
The discussion will have international guests. one of the guests Naveen Mallela, global head of Onyx, the digital asset arm that JP Morgan Chase created in 2020. JP, the largest bank in the United States (USA) in assets, is also one of the banks that are most excited about blockchain.
So much so that he created the open source platform Quorum, which is now owned by the solutions company Consensys. In addition, it created the Interbank Information Network (IIN), which has 300 banks connected. And the JP Coin currency, a stable currency (stablecoin), because it is paired with the dollar.
Bank of France will also participate in the discussion of the digital real
Another participant is Andrew McCormack, Head of the Innovation Center at the Bank for International Settlements (BIS) in Singapore. The BIS is called the central bank of central banks and is carrying out a series of studies and tests with CB digital currencies. Asia is one of the places where this happens the most. China, for example, already conducts digital yuan tests with citizens and shopkeepers.
Claudine Hurman, director of infrastructure, innovation and payments at the Bank of France, will also participate in the discussion of the digital real. The bank is also carrying out tests with other central banks – the Swiss, for example. The focus is to study the use of a CBDC, which in this case would be the digital euro, in the financial market.
Fábia Aparecida de Carvalho, head of the BC’s Department of International Affairs, will moderate the webinar.
Recently, BC president Roberto Campos Neto stated that the institution would like the digital real to be in a blockchain. The BC has also stated that the idea is to allow the use of currency in decentralized finance (DeFi), which takes place in blockchain.
Thus, the regulator claims that the digital real would generate the opportunity to create new products and services that offer something beyond instant payment, Pix, and open banking.