Initial steps towards a central bank digital currency by the Central Bank of Brazil This note shortly discusses the development of a central bank digital currency (CBDC) by the Central Bank of Brazil (BCB).
What is central bank digital currency (CBDC)?
Central Bank Digital Currency (CBDC) is the digital form of a country's fiat currency, which is regulated by its central bank.
Does Brazil have a CBDC plan?
Brazil Central Bank announces CBDC plan one year after meeting Ripple Visa develops interoperability concept for central bank digital currency payments previous initiatives “How to attract more business to Rio de Janeiro given the country's economic crisis” (2015) "How to improve Rio" (2014)
Should central banks introduce CBDCs?
The authors advocate the introduction of CBDCs so that central banks can implement negative interest rate policies more effectively. 31 See CPMI and Markets Committee, Central bank digital currencies, March 2018. 32 US data show that reports of identity theft have risen steadily over the last years.
