"Drex" is the official name of the digital currency of the Central Bank of Brazil (BCB), which is being developed as part of the project to create a Central Bank Digital Currency (CBDC) in the country. The idea is for it to function as an extension of the real, but in digital format, enabling faster and safer transactions and payments. Drex is designed to operate in the digital financial system, integrating with the instant payment system such as PIX, and is part of the effort to promote financial inclusion and innovation in the sector.
Drex Features
Based on blockchain: Uses distributed ledger technology, bringing greater transparency and security.
Integration with the financial system: Facilitates transactions with banks and fintechs, and can also promote smart contracts.
Financial inclusion objective: Can facilitate access to banking services, especially in remote regions.
Difference between Drex and Cryptocurrencies
Unlike traditional cryptocurrencies, such as Bitcoin, which are decentralized and do not have an issuing authority, Drex is centralized and regulated by the Central Bank. Its purpose is to complement the current financial system, not replace it.
Implementation Status
The Drex project is in the testing phase, with an expected launch in stages, being fully available in the coming years, as the BCB finalizes its implementation and regulation.
