The Brazil
Central Bank is starting off afresh as they are embarking on a secure
payment quest with their upcoming digital journey. The mission of the South
American branch is to invest in at least nine different projects as presented
by a few companies. This international
extension of their payment solution services holds out a strictly observational target as the bank is to
assess and analyze the evolution of cryptocurrencies at the moment. Their
biggest challenge is to launch their own CBDC on the online payment
market for the longest run.
What is
CBDC?
A CBDC is
short for ‘’Central Bank Digital Currency’’; In other words, Brazil’s central
bank is up and ready to partake in a cashless payment boost on their southern
continent whilst promoting a one hundred per cent government approved monetary
currency online. It is with such insights that the Central Bank has narrowed
project proposals down to mainly Brazilian banking firms: amongst the eight
selected, popular names such as the Brazilian Federation of Banks, Banco
Santander Brasil and Visa do Brasil, to name a few.
Within the series
of experimentations here is what The Brazil Central Bank will be looking for:
·
Products
and service delivery pace
·
Payment
completion versus payment charging
·
Micropayment
validation when the receiver and customer are both offline
Let’s wish
them well with this upcoming e-payment challenge.
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