To create digital money, brazil’s central bank has enlisted the aid of nine different companies (cbdc). the partners are the decentralized finance (defi) platform aave and the crypto exchange mercado bitcoin.

on thursday, the central bank announced that it had received 47 proposals from seven countries for a cbdc initiative. it stated that it sought to evaluate use cases for a cbdc and assess its technological feasibility.

the cbdc pilot program will begin in 2022, and the final version will be introduced in 2024, the central bank said in november.

it was essential to find an appropriate balance between the breadth and depth of proposals submitted to our lab and our need to closely monitor those projects that were ultimately chosen, “our central bank stated in its announcement.”

according to the central bank, this phase will begin on march 28 and continue until july 27.

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