Brazil Drex event

cbdc · PageRank 0.0022

Also known as: Drex, Real Digital

Overview

Drex is the Central Bank of Brazil's digital currency project, formerly called Real Digital, intended to provide a digital version of the Brazilian real together with a platform for tokenised transactions and smart-contract settlement. Onboarding of the first 16 pilot participants began in July 2023, followed by a second phase focused on privacy and interoperability and extensions into use cases such as trade finance and agricultural commodity settlement. After the pilot showed difficulty reconciling transaction privacy with a distributed ledger, the central bank indicated it would proceed with a phased launch around 2026 using a centralised model without blockchain elements.

Within the DeFi Intel graph, Brazil Drex connects to 3 tracked entities, most strongly to Banco Central do Brasil, Hyperledger Besu, Banco Central do Brasil.

Relations

Top connections in the DeFi Intel knowledge graph (confidence-weighted, 3 of 3 total).

Frequently asked questions

What was Drex called before?

It was originally known as Real Digital before being rebranded Drex.

When did the Drex pilot begin?

Onboarding of the pilot's first 16 participants started in July 2023.

Why did the design change?

The pilot's central challenge was reconciling transaction privacy with a distributed ledger; the Banco Central do Brasil subsequently indicated it would launch Drex using a centralised model without blockchain elements.