The Brazilian digital currency will soon be available to Brazilians, but the launch of Real Digital raises many doubts at a time when markets are already more familiar with cryptocurrencies and buying token is becoming routine in several sectors.
The CDBC (central bank digital currency or central bank digital currency) is an initiative by many countries to combine the advantages of digital technology with the stability and security of fiduciary currency – the one we use on a daily basis and is backed by monetary policy.
It is issued and created, regulated and distributed by a financial or governmental authority, in Brazil it is the Central Bank.
With the digitized real, Brazilians will be able to carry out instant transactions, with lower costs and with more convenience compared to transactions with physical currency. In addition, the sovereign digital currency will enable the adoption of advanced features – smart contracts, transaction traceability and others.
But is the Brazilian economy prepared to tokenize transactions with the digital real?
BLOCKBR, a native web 3.0 company, will talk about the characteristics, benefits and challenges of the digital version of the real!
WHAT ARE THE OBJECTIVES WITH REAL DIGITAL?
REDUCTION OF PAPER CURRENCY ISSUE
The cost of issuing paper currency (coins and bills) is one of the main focuses of BACEN with the adoption of the digitized real. To give you an idea, R$ 0.49 is spent to produce a 25-cent coin and R$ 0.32 to produce a R$ 200 bill.
We can measure the high expense, especially due to the accelerated deterioration of banknotes when there is no ideal replacement. The real digital will greatly reduce this cost.
FINANCIAL INCLUSION
The digital sovereign currency will help promote financial inclusion, allowing people who do not have access to banking services to be inserted in the digital economy, something extremely beneficial in a country with 39% of people unbanked, according to a survey by Brinks with Fundação Dom Cabral in 2021.
CHEAPER AND EFFICIENT TRANSACTIONS
Digital fiat currency tends to greatly simplify financial transactions because it will eliminate middlemen and reduce transaction costs. In addition, the blockchain technology used in the digital real will bring more agility and security.
FIGHT TAX EVASION AND MONEY LAUNDERING
One of the main features of a digital currency is the ability to track transactions made with every fraction of a digital real that a person has. This will make tax evasion and money laundering much more difficult, increasing transparency and compliance with financial regulations.
STIMULUS THE USE OF TECHNOLOGICAL INNOVATION
Digital fiat currency, as well as business tokens, are representations of a technological innovation that can transform other areas of the market and knowledge.
Blockchain can digitize complex production chains such as mining and the logistics sector and in the traceability of agricultural production, as is the case in the IBM Food Trust project, which brings precious information to consumers.
The adoption of the digital real will encourage more companies and people to adopt high-level digitalization in their activities, accelerating the formation of a tokenized economy with benefits for the populations.
CAN TOKENIZATION BENEFIT FROM REAL DIGITAL?
Absolutely, yes!
It is the opinion of several specialists in the financial system and the tokenization market that the digital version of the real will boost activities with business tokens.
If we think about the tokenization of an FIDC, the entire operation of offering tokenized credit rights will be supported by the use of a reliable settlement currency, since the real in digital version will be controlled by the highest monetary authority of the country.
The marriage of tokenized securities with the launch of the digital real will allow the online and real-time settlement of capital market operations and the best: uninterruptedly, at any day and time, something that is not possible even with the PIX.
WHAT IS REAL TOKENIZED?
The project to create the Brazilian CBDC provides for the creation of the tokenized real – a stablecoin issued by a commercial bank, authorized by the Central Bank and backed by the digital real to be used as a liquidity currency in tokenizations.
This whole scenario will significantly increase the credibility of transactional tokens.
WHEN WILL REAL DIGITAL LAUNCH?
BACEN forecasts the launch of the digitized real at the end of 2024. Currently, the project is in the 2nd phase of development – pilot use of digital currency to trade tokenized securities.
The digital fiat currency will have two versions.
- Wholesale CBDC: for high value and usage transactions between financial institutions and between large companies;
- The retail CBDC or tokenized real: intended for payments and settlement of daily operations of any value made by people and companies up to a certain amount.
HOW TO BE PREPARED FOR REAL DIGITAL?
As we saw earlier, tokenization of assets, which has been on a continuous upward curve for some years now, will especially benefit from the creation of the sovereign digital currency and tokenized businesses can follow this trend.
The launch of the digital real will enhance the quality of the result of the tokenizations, as it will operate with an officially guaranteed digital currency – which brings down investor resistance to using market digital currencies and stablecoins for operations.
BLOCKBR, with extensive experience in the tokenization of assets and rights, will be able to quickly facilitate interoperability between the supply chain and the Brazilian CBDC.
The result: your company taking the lead in the tokenization model with Brazilian digital currency!
GET TO KNOW BLOCKBR’S TOKENIZATION API FOR CROWDFUNDING!
According to CVM regulations, operations involving tokens of receivables must be carried out as securities, under the control of the body or, as an option, be offered on the market through crowdfunding programs.
The APIs (application programming interfaces) used in these programs may vary depending on the platforms and services involved. Furthermore, each crowdfunding platform may have its own approach to tokenization.
BLOCKBR offers the development and provision of specific APIs for tokenization in crowdfunding, with resources for creating, issuing, transferring and managing tokens.
With this, your company can trade receivables with all the benefits of tokenization on just one platform, streamlining operations and facilitating governance.
Come talk to BLOCKBR and find out more about this service!
Tokenization infrastructure for the financial market: check out BLOCKBR’s performance!
ENJOY THE TOKENIZED ECONOMY WITH BLOCKBR!
Recent actions by BACEN and CVM signal that tokenization is legal and the launch of the digital real will be a great divider to increase the credibility of the technology for those who want to invest in tokens.
Buying token is not complicated if you invest with someone who makes it easy! Just open an account with a qualified asset tokenization company and create a digital wallet to store your applications.
Access our token marketplace, learn about the most varied offers and choose the ones that align with your investor profile. And you can start investing in tokens with little, from 50 reais!
Open your account with BLOCKBR and earn more with your investments!
BLOCKBR Digital Assets is a fintech native web 3.0 that brings technological innovation and digital knowledge to transform physical assets into digital ones, in the asset tokenization process.
The supply of tokenized assets is democratic and decentralized, which makes the way of investing safe, simpler and more efficient.
We enable, structure, issue and offer tokens on our platform and beyond. Be aware that tokens depend on feasibility and regulatory factors.
Come tokenize your business and put it on a higher level in the market!