Real digital | Banco do Brasil begins testing Drex internally

Banco do Brasil announces a simulator to internally test the interactions of Drex, the Brazilian digital currency

OR Bank of Brazil (BB) implemented a test platform to simulate Drex interaction. Announced this Wednesday (26), the resource will be used internally and will help understand the ecosystem and use cases of the Brazilian digital currency, which was developed by the Central Bank of Brazil (BCB).

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According to the financial institution, the simulator will be presented at Febraban Tech, a technology and the innovation of the financial system which will be held this week in San Paolo (SP).

BB simulates Drex operations

Testing is carried out by employees of business areas using a simulator that offers resources to simulate the issuance, redemption and transfer of Drex. In addition, the system performs tokenized federal government securities operations.

The applications serve three distinct profiles to understand the different uses of digital currency:

• BB customers: transactions between customers who are natural or legal persons.
• Financial institution: transactions between Banco do Brasil accounts and other financial institutions;
• TPFt: transactions with tokenized federal public securities.

“Knowledge of these procedures is important because to access the Drex platform users will need a licensed financial intermediary,” said Rodrigo Mulinari, BB’s chief technology officer. “By making the Drex Simulator available on Febraban Tech, we can show how BB is preparing for this new era of the tokenized economy.”

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Source: Terra

Rose

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