Digital real could come out in 2024, announces president of the Central Bank

Campos Neto said that the objective is to launch the currency in 2024, to face other world economies that are already thinking about the future of monetary circulation. We recently announced here on Newsverso that Indonesia has already launched its own currency in the digital sphere. 

Indonesia's central bank launches digital rupiah with a focus on the metaverse

Focusing on the future of the economy, the largest power in Southeast Asia, Indonesia, launches the digital rupee, the country's official currency that can be used in the metaverse. In a statement this Monday (5), the president of Indonesia's central bank, Perry Warjiyo, said that the nation's digital currency will be compatible with that of other central banks.

With tests scheduled to begin in 2023, the BC president spoke about the need to insert Brazil into this new sphere:

“Assets will be 'tokenized' and, looking at the banks' balance sheets, assets and liabilities can become 'tokens', we will need a currency to face this new system of interaction”, he pointed out.

For Campos Neto, some countries are depriving themselves of going digital, including prohibiting the emergence of their own assets. According to him, this practice can be harmful. “Banks have to be encouraged to have digital custody”, he commented. 

Campos Neto was asked if the change of governments could interfere with the digital real

Finally, the president also commented that the Central Bank's innovation practices are not regulated by governments, therefore, the change in the executive will not interfere with the actions. 

QuestionWhen discussing how the change of governments in Brazil could affect the Central Bank's innovation agenda, Campos Neto said he did not expect major interference. “Regardless of the government, regardless of who the president is, regardless of the mandate. When looking at the financial future, I don’t think anything will change.”