Brazil could have its own digital currency in two years, says central bank president

4 septembrie 2020

The president of Banco Central — Brazil’s central bank — has announced Brazilians could expect to see a central bank digital currency before 2023, according to coindesk.com

According to a Sept. 2 report from news outlet Correio Braziliense, Brazil could be ready for a central bank digital currency (CBDC) in 2022. Roberto Campos Neto, the president of Banco Central, stated that the country’s central bank had already undertaken measures to modernize the Brazilian financial system which has made a CBDC the natural outcome.


The president cited the country’s PIX instant payment system and open banking among those measures. The central bank plans to enable peer-to-peer and business-to-business transactions in 10 seconds or less using a mobile phone, internet banking or ATMs beginning in November. An open banking system allows for the exchange of user information between banks — enabling customers to switch more easily.

Campos Neto said: “A CBDC distinguishes itself from cryptocurrencies without national trust, like Bitcoin, because it is just a new form of representation of the currency already issued by the national monetary authority.”

Banco Central has already started laying the groundwork for a CBDC. In August, the bank announced it had formed a dedicated group to assess how a digital currency could fit with the national payments ecosystem and what its impact could be on the Brazilian economy. Campus Neto said he expected the group would be ready to present their findings on the matter within 6-12 months.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?