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Banco Central do Brasil has completed the initial phase of its CBDC pilot project, unveiling essential aspects of the Drex framework, privacy and programmability features, and emphasizing significant technological hurdles.
Banco Central do Brasil (BCB) announced the results of the first stage of the Drex pilot, which took place from July 2023 to October 2024. During this phase, two types of digital assets were evaluated:
- Drex de Atacado — intended for interbank settlements;
- Drex de Varejo — designed for retail payments.
Additionally, tokenized government bonds, Título Público Federal Tokenizado (TPFt), were issued to assess the delivery versus payment (DvP) scenario, facilitating the examination of data security mechanisms, decentralization, and programmability.
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The tests included over 420 transactions with Drex de Atacado tokens, 1,900 transactions with Drex de Varejo, and 1,263 successful transactions involving TPFt. The pilot engaged 16 consortiums, uniting more than 100 financial institutions, such as banks, payment service providers, blockchain developers, and financial market infrastructure operators.
The pilot evaluated various privacy-enhancing technologies, including Prova de Conhecimento Zero (ZKP), Anonymous Zether, Rayls, and Microsoft Nova ZKP. The system architecture, based on Hyperledger Besu, was also tested using the Quorum Byzantine Fault Tolerant (QBFT) consensus model. To enhance the resilience of the Drex network, 26 nodes were deployed, interconnected through Brazil’s National Financial System Network (RSFN).
The report underscores the need for further improvements in data security mechanisms to fully comply with Brazil’s Banking Secrecy Law (Lei Complementar 105/2001) and General Data Protection Law (LGPD, Lei 13.709/2018).
Drex has entered the second phase of the pilot, where 13 use case scenarios are being explored, including digital asset transactions and smart contract applications.
Сообщение Banco Central do Brasil Concludes First Section of CBDC Pilot Mission появились сначала на CoinsPaid Media.
