Real Digital should expand control of money

Real Digital trials should start in 2023, according to a new forecast released by the central bank after the server strike. The delay in the start of operations only increased the expectations of Brazilians. The new currency will be able to take control of your money. Understand how this can happen.

Read more: Look at the blow! 7 good tips to not get scammed at the gas station

Real Digital will be guaranteed by the Central Bank. It is the possibility of using new technologies, with the reduction of paper costs. In other words, the new money will function as an extension of physical currency, with the promise of faster payments.

Real Digital and money control

According to an article published by the Bank for International Settlements (BIS), the Central Bank will have full control of the population’s money through Real Digital.

That’s because the system will allow the Central Bank to stop people’s withdrawals. Or even freeze and postpone the redemption of the money.

BC’s expectation is that Real Digital will stimulate innovation. This would be through smart contracts, as well as scheduled payments and more personalized solutions.

In addition, the entire Real Digital environment is regulated and secure. Another advantage is that digital currency should have less volatility in prices compared to cryptocurrencies.

In the case of companies, they will be able to use Real Digital through a regulatory environment. Individuals will be able to make transfers between accounts and payments.

The digital version of the real has been studied by the Central Bank since 2015. Since then, several advances have been made and new tests should improve the Digital Real before its wide release. The expectation is to create the possibility of new business models, with a more inclusive banking system.

Digital banks will be able to turn deposits into tokens to access the new services. And such tokens can be converted into Real Digital. But all within a schedule, with scheduling and daily limit so that deposits become real digital. Thus, the Central Bank will be responsible for controlling the flow of money.

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Dollar goes to R$ 5.32 after approval of ‘PEC Kamikaze’ in the Senate | Economy

At 10:23 am, the US currency rose 1.69%, sold at R$5.3209. The maximum so far, …