The post Brazil’s CBDC Pilot Enters Phase 2, Leveraging Blockchain and Oracles appeared on BitcoinEthereumNews.com. In the second stage, it will employ blockchain and oracles to create a trade financing solution.  Microsoft, Banco Inter, Chainlink, and 7Comm have joined the initiative. To enhance supply chain procedures and cross-border agricultural commodity transactions, the second phase of the Drex central bank digital currency (CBDC) pilot w…

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Brazil advances CBDC technology with new cross-chain pilot using Chainlink’s CCIP

The Central Bank of Brazil (BCB) is advancing its central bank digital currency (CBDC) framework initiative by collaborating with Banco Inter, Microsoft Brazil, 7COMm, and Chainlink, according to a Nov. 19 statement. The partnership aims to support trade finance solutions in the second phase of...

The Central Bank of Brazil (BCB) is advancing its central bank digital currency (CBDC) framework initiative by collaborating with Banco Inter, Microsoft Brazil, 7COMm, and Chainlink, according to a Nov. 19 statement. The partnership aims to support trade finance solutions in the second phase of Brazil’s DREX pilot program. This phase will focus on automating cross-border settlements for commodity transactions using blockchain technology and orac…

CryptoSlate

Brazil advances CBDC technology with new cross-chain pilot using Chainlink's CCIP

The Central Bank of Brazil (BCB) is advancing its central bank digital currency (CBDC) framework initiative by collaborating with Banco Inter, Microsoft Brazil, 7COMm, and Chainlink, according to a Nov. 19 statement. The partnership aims to support trade finance solutions in the second phase of Brazil’s DREX pilot program. This phase will focus on automating…

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In the second stage, it will employ blockchain and oracles to create a trade financing solution.  Microsoft, Banco Inter, Chainlink, and 7Comm have joined the initiative.  To enhance supply chain procedures and cross-border agricultural commodity transactions, the second phase of the Drex central bank digital currency (CBDC) pilot was established by Brazil’s central bank, Banco Central do Brasil (BCB). Moreover, in the second stage, it will empl…

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Brazil’s CBDC Pilot Enters Phase 2, Leveraging Blockchain and Oracles

The Banco Central do Brasil (BCB), the central bank of Brazil, has initiated the second phase of its Drex central bank digital currency (CBDC) pilot, aimed at enhancing cross-border transactions and streamlining supply chain processes in the agricultural commodity sector. The second phase of the Drex pilot focuses on the development of a trade finance solution that leverages oracles and blockchain technology. This phase has brought together nota…

digitalmarketreports.com

Collaboration Among Chainlink, Microsoft, and Banco Inter in Brazilian CBDC Pilot

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Experts believe the partnership sets a powerful precedent, showcasing the potential of decentralized tools in centralized financial systems.

AMBCrypto

Chainlink joins forces with Microsoft and Banco Inter for Brazil’s CBDC pilot

Brazil’s Central Bank partners with Chainlink, Microsoft, Banco Inter, and 7COMm for Drex CBDC pilot, utilizing blockchain technology to revolutionize supply chain and trade finance processes. Chainlink’s Cross-Chain Interoperability Protocol has processed over $16 trillion in transactions and will enable secure cross-border functionality between Brazil’s Drex platform and foreign central banks.   Brazil’s Central Bank (BCB) has announced a grou…

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Brazil’s Central Bank Selects Chainlink for Drex Project’s Secure Settlement

The Central Bank of Brazil (BCB) is advancing its central bank digital currency (CBDC) framework initiative by collaborating with Banco Inter, Microsoft Brazil, 7COMm, and Chain linkaccording to a Nov. 19 statement. The partnership aims to support trade finance solutions in the second phase of Brazil’s DREX pilot program. This phase will focus on automating cross-border settlements for commodity transactions using blockchain technology and oracl…

Brazil’s CBDC Pilot Enters Phase 2, Leveraging Blockchain and Oracles

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