2024-10-10 18:48:00
The Central Bank published on Thursday the 10th the rules and procedures for the public call for the submission of business case proposals to be tested in the second phase of the Drex pilot, the municipality’s digital currency project. Interested bodies will be able to submit proposals from next Monday, the 14th, until November 29th.
“Institutions that operate in the financial market and that necessarily have the ability to test the proposed business model, including issuing, redemption or transfer operations of assets, as well as carrying out the simulation of financial flows deriving from events, can participate in the pilot project. . negotiation, when applicable to the case at hand,” the BC informed.
Proposals must necessarily involve business cases for their implementation through smart contracts on the pilot platform. There is no limit to the number of business cases that can be selected, which will depend on the total number of registrations and the technical and operational capacity of the authority.
Proposed business cases must be described in a maximum of five pages, excluding the cover page, and present a cover page identifying the proposing consortium and the deadline for implementation of the proposed case, as well as a description of this case.
The description must make clear the potential positive impacts of the project on the financial system; the privacy solution to comply with the General Data Protection Law (LGPD) and other applicable regulations; the test methodology; and the existence or otherwise of legal or regulatory impediments already identified for the application of the case.
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