Investor Presentaiton
Annual Report
AR
2022
SUMMARY
WHO WE
ARE
OUR
STRENGTH
AND
OUR
RESOURCES
OUR
RESULTS
The Digital BRL
Agenda BC#
Since 2018, the BCB has been conducting actions related
to central bank digital currencies to monitor and promote
the digital evolution of the Brazilian economy. The idea is
that, when launched, the Digital BRL will become part of
people's daily lives, being also used by those who use bank
accounts, payment accounts, cards, or cash. It is important
to emphasize that the objective of the Digital BRL is not
to replace the conventional BRL in the everyday life of
Brazilians.
In 2022, the BCB started the evaluation of use cases
and technological feasibility of the Digital BRL, through
the LIFT Challenge Digital BRL. The initiative, led by the
BCB and Fenasbac, selected technological projects for the
development of minimally viable products (MVP). Based on
the LIFT Challenge results, the BCB may move forward to a
testing phase in 2023.
The new digital currency can be used for financial
transactions settlement, fostering financial inclusion and
the emergence of new businesses. The platform of the
Digital BRL will allow access to financial services at banks
and other financial service providers.
Based on guidelines released in 2021, the Digital BRL
Initiative foresees the creation of a market infrastructure,
under the governance and regulation of the BCB, where
technologies such as programmable money and smart
contracts will be available for new business models.
The use of Digital BRL for retail purposes was initially
foreseen. There is a focus on technology to foster innovative
business models that can provide greater efficiency to the
Brazilian economy. As for the online operation, the Digital
BRL must be integrated with current payment systems,
allowing operations such as payments in points of sale or
transfers of funds between its users.
The BCB thus seeks to promote the adoption of efficient
and secure technologies, while increasing the population's
access to cheaper financial products and services. The
creation of the Digital BRL will be another step in the
direction of a technological and inclusive financial system.
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