Tokenized Digital Real Pilot to Use Ethereum-Compatible Hyperledger Besu
Brazil continues to move forward with its plan of delivering a working version of its own central bank digital currency (CBDC), the digital real, for the end of 2024. According to reports, the central bank of the country chose Hyperledger Besu, an open-source, Ethereum-compatible blockchain platform, as the base upon which to run the tokenized version of the digital real.
Local analysts believe the compatibility with Ethereum might bring a slew of third parties to develop applications and services using the tokenized digital real, opening the economic playing field to more competition. However, this could also minimize the role of banks in the new digital economy. On this, JC Bombardelli, CTO of ed-tech startup Gama Academy, stated:
I don’t think it’s a total nod to the defi world because that would mean giving up a lot of controls that the central bank would never want to have.
Another reason for choosing Hyperledger Besu would be its open-source origins, which would allow the government to use it without having to pay for licenses.
