BlocksInform
A tokenized version of digital reality, the digital currency Brazilian central bank (CBDC), successfully passed a public blockchain pilot test. The test, that was carried out through bitcoin mercado, a domestic stock exchange, using a star array, shows that the digital real token can be used in public blockchains by following all the rules of compliance established by the laws of Brazil.
Digital Real complements the starchain blockchain. Test
The real digital project, a Brazilian initiative for the construction of a digital currency central bank, is progressing towards its potential issuance. Mercado bitcoin, a local exchange, informed that a series of pilot tests aimed at investigating the interconnection of a tokenized version of digital reality, has been successfully conducted.
Tests have used starchain blockchain as a public blockchain, and understood all the steps an ordinary user would need to take to use a token, string version of digital reality, and includes tracking, know your customer and fraud prevention procedures, based on a decentralised digital identity system.
ID tasks have been completed by clearsale and cpqd, who managed the processes of identifying and preventing fraud in order to make those transactions compliant to mercado bitcoin pay, the tool employed by mercado bitcoin for transaction processing.
According to the institutions at the origin of this test, this success shows that public networks such as star blockchain can serve as substitutes for the functioning of digital reality. On this, Fulvio Xavier, responsible for special projects at Mercado Bitcoin, :
Our thesis was to prove that it is possible, viable and safe to carry out transactions with digital assets using a representation of the real on public networks. The central bank is always mindful of what happens when transactions are no longer within its purview.
More Tests
The completed test is only one part of a set of projects that are carried out to evaluate the behaviour of digital reality in different situations. Mercado Bitcoin is part of the nine institutions selected by the Central Bank of Brazil to run these tests, as part of the special Laboratory of Financial and Technological Innovations (LIFT) challenge issued in 2022.
On Feb. 14, Roberto Campos Neto, president of the Central Bank of Brazil, revealed that a full pilot test would be conducted as soon as possible to deliver a comprehensive development route for the central bank digital currency on Dec. 2023, before his mandate ends.
What are your thoughts on the latest real numerical tests? Tell us about it in the comments below.
