Considered one of the countries with the best financial system in the world, Brazil has been investing in systems and alternatives to continue progressing. In November 2020, with the creation of Pix, the country became a world reference.
Last year, the instant payment system of the Central Bank was chosen as the best payment system in the world among all payment products of the Central Bank, launched in the last 12 months, in the Innovation in Payments category of the Fintech & Regtech Global Awards 2021. Currently, the system has more than 126 million registered users, according to BC data.
This year, another novelty that comes to improve the financial system and promises to bring Brazil to the world of cryptocurrencies, is the Real Digital. The announcement was made by the president of the Central Bank, Roberto Campos Neto, who reported that the institution’s digital currency it will probably be released in the second semester and its first phase will be a pilotnot being available to the entire population.
Still no details on how the Real Digital, the CBDC (digital currency issued by the central bank), works. it will be a virtual version of the real one, it will have its value based on the Reserve Transfer System (STR) and an emission limitso they have a maximum amount to be issued, just like Bitcoin and other cryptocurrencies.
According to the specialist in real estate innovation, Cleberson Marques, the arrival of Real Digital will consolidate another movement to digitize money and modernize our economy.
“The financial market has presented several changes over the years, always innovating. From bills and coins to checks, from checks to credit cards, cards for electronic transactions such as DOC and TED and today the PIX. This allowed us greater accessibility and speed in the acquisition of goods and services and placed the Brazilian financial system among the most modern in the world.”, he comments.
Barriers
Cleberson Marques, who is also one of the founders of Terra Token, a Midwest startup specializing in structuring technology for cryptocurrency transactions and tokenizing real estate assets, mentions that there are some barriers that can prevent Real Digital from working.
In Brazil, it could be the lack of internet access in Brazilian households and the use of some type of device (smartphone, tablet, PC or notebook), which hinders the spread of mechanisms and the full adoption of CBDC. However, he believes that even with these difficulties there will be no possibility of the project being paralyzed.
The specialist sees that the real estate sector may also be affected by the arrival of Real Digital. Moving billions of reais each year in buying and selling in conventional operations, the new technology will bring more profits and further grow the market.
“With the adoption of these new technologies, we can see faster, safer and more efficient negotiations throughout the chain. A buyer may, upon proof of acceptance of the sale of the property, pay into a predefined account in Smart-contracts and automatically identify the execution of the payment, autonomously transmitting the record to the new ownerCleberson concludes.
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