Central Bank of Brazil Confirms Blockchain Pause is Temporary
- The Central Bank of Brazil has temporarily paused the use of blockchain for its Drex central bank digital currency (CBDC) project.
- Despite the pause, the bank plans to continue using decentralized technology in future projects.
- The Central Bank aims to issue its own currency for tokenization-linked settlements.
The Central Bank of Brazil has clarified that the halt in using blockchain for the Drex CBDC project is not permanent and emphasizes its commitment to decentralized technology for future endeavors.
This temporary pause does not indicate an end to their digital currency ambitions, as they plan to issue their own currency for tokenization-linked settlements in the future. Source
