🤜🏻 Central Bank of Brazil Director Praises Bitcoin as a Financial Innovation, Talks Programmable Digital Real
Fabio Araujo, Director of the Central Bank of Brazil, has praised the properties of Bitcoin, saying it is a financial innovation using new technologies. To Araujo, Bitcoin was the catalyst for what is today known as Web3. At an event, Araujo also commented about the status of the development of the digital real, stating that his organization hopes to add smart functions to the currency.
- Central Bank of Brazil Praises Bitcoin as Pioneer of Web3 Tech
More and more central banks around the world are dealing with the issue of cryptocurrencies and how to innovate to keep up with these technologies. Fabio Araujo, director of the Central Bank of Brazil, praised Bitcoin as a financial innovation that gave rise to the Web3 movement and talked about how the digital real, the central bank digital currency (CBDC) that is still under research, might have programmable features.
- A Programmable Digital Real
Araujo also touched on the subject of the digital real, hinting at the possibility of it having smart capabilities. In a set of slides presented at the event, the central bank digital currency is shown as being linked to Web3 elements, such as digital assets, tokens, internet of things (IoT) protocols, and offline payments.
- What do you think about the stance of the Central Bank of Brazil on Bitcoin? Tell us in the comments section below.
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