Monday, January 17

Banco Central do Brasil sandbox highlights blockchain solution


The Central Bank of Brazil, through its Sandbox, highlighted a solution with blockchain technology in recent days. The autarchy studies several innovation technologies and promotes two programs to encourage companies in the sector.

One of them is the Lift Lab, coordinated by Fenasbac and the Central Bank of Brazil, which analyzes companies in the maturation stage and does not allow their products to be tested on real customers, and may be presented by individuals.

the other is the Sandbox BC, testing environment in which companies obtain authorization from Bacen to test solutions, for a certain period. These exclusive projects for legal entities can be for payments or for the financial sector, following more mature projects in the market.

Banco Central do Brasil sandbox highlights blockchain solution

Last Monday (20), the Central Bank of Brazil highlighted on its page a project chosen in Cycle 1, which is a platform for issuance and secondary trading of CCBs.

This product is being built by the OTC Exchange, a digital platform that makes it possible, through a financial institution, to intermediate credit operations between “surplus and deficit-deficit agents”, trading the securities of these operations in a secondary market.

Its creator has another project connected to Lift Lab, which is Bankhub. In Sandbox BC, Bolsa OTC is a company that should use the blockchain to give more integrity to transactions, according to note of the Bacen.

“At the OTC Exchange, the idea is that the registrar and settlement processes of digitally represented asset purchase and sale transactions run on a blockchain network, ensuring integrity and regulatory compliance for all participants.”

The product in tests controlled by BC should work in principle only in P2P operations, which consist of loans between people with the purpose of bringing privately-held companies that seek to raise funds in the market directly with investors.

Sandbox and Lift Lab chose the same project

Although the two innovation environments of the Central Bank of Brazil have different characteristics, they have recently chosen the same project to support. Even so, BC believes that this process is important to validate the prototype and allow it to reach the market as a value proposition.

Created by a company, the project consists of a platform for issuing and trading credit securities, in particular Bank Credit Bills (CCBs), related to the real estate sector.

With Lift Lab, the solution was created and tested with several credit risk analysis algorithms, with the head of innovation at Fenasbac, Rodrigo Henriques, being satisfied with the project. He also declared that the road to innovation is long and more initiatives should emerge in the coming years to improve the National Financial System.

“This type of innovation makes credit reach those who need it cheaper and more efficiently. At the other end, the investors who finance the projects are able to have access to returns higher than those of the market, showing how the disintermediation of the process can be beneficial to the economy”.

The case also shows that the Central Bank of Brazil remains attentive to solutions involving the blockchain, at a time that is also preparing to create its CBDC, the digital Real.





livecoins.com.br

Leave a Reply

Your email address will not be published. Required fields are marked *