The sovereign national digital currency will be supported the national rescript and would have a fixed supply quite similar to Bitcoin.
The president of the central bank of Brazil confirmed that the country’s sovereign digital currency pilot can go live this year, Cointelegraph Brazil reported .
The confirmation regarding the digital currency came during an event on Monday, wherever Roberto Campos Neto, the president of the financial institution of Brazil, noted that a pilot CBDC program may go live in the second half of this year.
The value of the upcoming CBDC would be pegged against the national fiat payment system STR (Reserve Transfer System). Neto conjointly confirmed that "Digital Real" would have a set offer and solely a certain quantity of it'd be minted, quite similar to Bitcoin:
"This [using the STR in Real Digital] is a way of creating the digitalization of the currency without creating a rupture in the banks' balance sheets. This project should have some kind of pilot in the second half of the year."
During his speech, Neto clarified that he still believes crypto is additional prominent as a kind of investment instead of a kind of payment whereas adding that it might change if the adoption among the masses rises.
( Prashant Jha, cointelegraph, 2022 )