Brazilian Digital BRZ

1. Summary

Ranks

Liquidity

-

Developer

-

Social

48

Momentum (beta)

0

Stack Rank™

-

Price

$0.18 +0.5%

Market Cap

$0.00 (#10716)

Supply

0.00 / 9.00M

Tags

Cryptocurrency Solana Ecosystem Avalanche Ecosystem Polygon Ecosystem Ethereum Ecosystem BNB Chain Ecosystem Algorand Ecosystem Stellar Ecosystem Rootstock Ecosystem

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Price
52W High price	$0.21
52W High date	27th Dec 2023 (1 year ago)
All Time High (ATH) Date	29th Oct 2023 (1 year ago)
ATH Price	$9.99
% From ATH	-98.36%
All Time Low (ATL) Date	9th Jun 2023 (1 year ago)
ATL Price	$0.005509000000
% From ATL	2863.95%

Supply & Trading Volume
Trading Volume (24h)	$70,010.00
Total Supply	9.00M

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Description

DREX

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DREX

DREX, officially known as the Digital Brazilian Real, is a Central Bank Digital Currency (CBDC) developed by the Central Bank of Brazil. The primary goal of DREX is to broaden financial inclusion by increasing the digitalization of the country's financial services, making them more accessible, cheaper, and efficient for the population.

Modernizing the Financial System

As part of a broader agenda that began in 2016, DREX aims to complement Brazil's traditional currency by leveraging blockchain technology to improve the security and efficiency of high-value transactions. The digital currency is designed to reduce operational expenses and enhance the overall business environment.

Key Features

• Tokenization: Enables registering projects from the physical world, such as cars or houses, as tokens in the blockchain, potentially reducing the cost of financial products for consumers.
• Improved Financial Inclusion: Increases digital transactions, with the potential to enhance financial education among the population.
• Complementary to Traditional Currency: Designed to lower operational expenses and improve financial inclusion, boasting a higher level of security compared to traditional currency.

Implementation and Adoption

• Pilot Project: The central bank is conducting an ongoing pilot project to test the feasibility and effectiveness of DREX.
• Government Support: The government aims to significantly promote digital currency adoption by integrating DREX into official transactions such as benefit disbursements.
• Financial Institution Support: Major banks and fintech companies in Brazil are actively preparing for the implementation of DREX, anticipating significant market impact.

Expected Outcomes

• Widespread Adoption: Analysts predict DREX will gain widespread adoption, with many industries and institutions expected to integrate it into their operations.
• Financial Services Democracy: The digital currency is expected to democratize financial services by making credit and investments more accessible to the general population.

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