Brazil's CBDC: Chainlink's Partnership With Microsoft Explained!

Описание к видео Brazil's CBDC: Chainlink's Partnership With Microsoft Explained!

Brazil is advancing its Central Bank Digital Currency (CBDC) project, Drex, designed to modernize its financial system and promote financial inclusion. Drex, a digital version of the Brazilian Real, uses distributed ledger technology for efficient transactions and complements Brazil’s existing Pix payment system. The project is in its second pilot phase, focusing on trade finance applications for agricultural commodities. Partners like Banco Inter, Microsoft Brazil, 7COMm, and Chainlink are developing solutions to enable automated, secure cross-border transactions. Chainlink's Cross-Chain Interoperability Protocol (CCIP) plays a key role, facilitating cross-chain, cross-currency interactions. While Drex faces privacy and security challenges, it is anticipated to launch in 2025, aiming to enhance Brazil’s digital economy and financial accessibility.

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More on Brazil's Drex: https://www.bcb.gov.br/en/financialst...
More on the partnership with Chainlink, Microsoft, Inter and 7comm: https://www.prnewswire.com/news-relea...

Timestamps:
0:00 Intro
0:50 What are CBDCs?
1:59 Brazil's CBDC Drex
3:10 Chainlink and other Pilot Partners
5:58 Conclusion

#Chainlink #cbdc #crypto

Disclaimer: The content provided on this channel is for informational and educational purposes only and should not be construed as financial advice. I am not a financial advisor, and the opinions expressed in this video are my own. Investing in cryptocurrencies and other financial markets involves risk, and you should do your own research and consult with a licensed financial advisor before making any investment decisions. Always make sure to understand the risks involved and never invest money you can't afford to lose.

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