Central Bank of Brazil Discloses 13 Use Cases Approved for Drex Pilot’s Second Phase

Brazil has decided to make its central bank digital currency (CBDC) pilot an opportunity to test different functionalities introduced to automatize

Brazil’s Central Bank Selects 13 Use Cases for Drex CBDC Pilot’s Second Phase II

Thirteen use cases will now be integrated into Brazil’s central bank digital currency (CBDC) pilot, drex, as part of its second phase. The use cases, which range from real estate tokenization platforms to automobile transaction automation, were chosen from 46 total instances presented by 16 consortiuma.

Central Bank of Brazil Approves 13 Use Cases to Be Integrated in Drex CBDC Pilot’s Second Phase, From Real Estate Tokenization to Automated Car Transactions.

Brazil has decided to use its CBDC pilot as an opportunity to test the introduction of automation processes for several government service processes. Recently, the Central Bank of Brazil disclosed the 13 new use cases that will be included in the second phase of its proposed drex CBDC.

The institution selected 13 use cases from 46 that were presented by 16 consortiums interested in testing these platforms in this new phase. Among the diverse functionalities included in the platforms are the assignment of credits with collateralization, the establishment of liquidity pools for trading government bonds, the financing of international trade operations, the automation of car transactions, and real estate platforms.

Some of the companies that will be participating in this new phase include Mercado Bitcoin, Brazil’s stock exchange B3, Santander, Tecban, XP-Visa, Banco do Brazil, Bradesco, Itau, Banco Inter, Nubank, and the Brazilian Association of Banks, among others.

According to statements given to Valor Economico by Bruno Grossi, Banco Inter’s emerging technologies manager, in addition to testing the feasibility of the approved use cases as part of the drex blockchain environment, these must also comply with the privacy solutions that are implemented to conceal the transactions and preserve the banking السر of users in the network.

Grossi also stated that each one of the use cases will be opened up for testing by other participants to evaluate their feasibility and performance on Drex’s blockchain. “Each of the use cases will be tested by everyone. Collaboration will always be welcome,” he explained.

The completion of the drex pilot phase was postponed until 2025 due to the inefficiency of the private solutions that were presented, prompting the creation of this new experimental phase. Back in May, the central bank stated that the solutions trialed lacked the “necessary maturity to guarantee compliance with all requirements and legal issues related to the preservation of citizens’ privacy.”

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