The Central Bank of Brazil once again praised the smart contract system Explaining that, in combination with other technologies, it opens up new possibilities for business.
Also according to the central bank, emerging technologies such as DLT infrastructure, blockchain and smart contracts are giving way to new business models that seek to meet demographic demand. Through native digital means of settlement, such as the tools and solutions available in the crypto-asset ecosystem.
“The evolution of financial systems globally has been fueled by the modernization of the legal framework, widespread and accessible use of secure technology, and a focus on delivering value to citizens. In this context, central banks and financial regulators are increasingly moving closer to seeing a token economy through initiatives related to digital currencies by Central banks, as well as by proposing regulatory frameworks and supervision models that focus on the crypto-asset sector,” BC announced.
In this way, the establishment claims it It is up to the regulators to foster a safe environment for generating new businesswhile enhancing access to the benefits of digitizing the economy to a larger base of citizens.
To that end, the foundation announced the holding of an event focused on tokenization and cryptocurrency. It’s called “Finance Tokenization: From Crypto Assets to Central Bank Digital Currencies,” The event will take place in Brasilia on April 14, at the Foundation’s headquarters.
According to BC Information, the workshop will be divided into thematic sub-themes: a) Economics and Finance. bright; and c) technology will be It is powered by researchers, academics and the general public who can submit their articles in PDF format.
The crypto economy is here to stay
Visa also praised aspects of the cryptocurrency economy. In a new report by the Center for Innovation in Latin America and the Caribbean, the company highlights the metaverse and Web3 among the top 5 trends expected to dominate the money traffic segment in the next five to seven years.
According to the company, these trends will affect the dynamics of banking transactions, purchases and money movement in this digital age.
According to Visa, the five big trends identified reflect how the simulation of virtual money, the fusion of digital identity and open finance, and several innovative technologies will enable new ways to exchange value.
“As 2023 approaches, the world is approaching a tipping point where money, payments and security are taking new forms — forms that will fundamentally change the nature of commerce and finance and have significant implications for consumers, businesses, banks and governments around the world,” said Romina Seltzer, Visa’s Head of Product and Innovation. Latin America and the Caribbean.
However, according to Seltzer, these trends point to a more flexible, invisible and open value exchange system that will truly unleash the power of digital money for society and humans.