Central Bank of Brazil (CBB) publishes guidelines for the development of the digital Real (CBDC Brasil)

Many countries are preparing to digitize their currencies and this is nothing new, but this week the Central Bank of Brazil (CBB) presented its guidelines for digitizing the Real.

The board has been designed since the launch of PIX, a completely online process for instant transfers between accounts. Just register a PIX KEY which can be a phone number, email or Individual Taxpayer Registration. The great advantage of PIX is that it does not depend on the time, which allows us to receive transfers even at dawn.

When trying to solve the problems with banking institutions, CBB states that these institutions will have preference in the initial payment of Real Digitized. But it does not explain how these currencies will return to the hands of these institutions as it will be possible to make transfers just like the PIX and transactions going directly through the CBB. So why should I have a bank account?

The X of the issue for the implantation of CBDC's is precisely this.

Reflection 1 As José Artur Ribeiro, economist and CEO of the Brazilian Coinext exchange, states: "Any initiative to digitize currencies is good for the crypto market, as they validate and endorse the technology behind the cryptos". But that is only really positive if the country in question decides not to attack cryptocurrencies with restrictions and prohibitions, and in this context ...

Reflection 2 As Peter Thiel, co-creator of PAY PAL, said: "The digital Yuen is an instrument of totalitarianism in the Chinese Communist Party". And thinking like Peter we have all the transactions, all the places, everything we buy tied to the Central Banks, thus being invaded our privacy.

Let us wait for the facts.

"Freedom Even Late" written on the flag of the state of Minas Gerais, Brazil.

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