Brazilian CBDC gets official name and logo

Brazilian central bank digital currency (CBDC), previously typically referred to as “digital real”, gets its main brand name. It would be called Drex. On August 7, the Central Bank of Brazil provided a news release, exposing and describing the brand-new brand for its CBDC. Developed by the Central Bank, the brand “Drex” is an acronym:”” D” and “r” mention Real Digital; the “e” means electronic and the “x” communicates the concept of modernity and connection, using distributed ledger innovation (DLT)”. Together with the brand name, the Central Bank revealed Drexs visual identity. On the CBDC logo, two arrows, including in the capital D, photo the advancement of the national currency, real, to its digital variation, while the transition from blue to light green colors represents the “transaction completed” message.Central Bank releases the brand of digital currency, Drex. Source: bcb.gov.brIn July, Pedro Magalhães– a blockchain developer and creator of tech consulting company Iora Labs, has reportedly discovered in the Drex code functions that would permit a central authority to freeze funds or lower balances. In 2015, Fabio Araujo, an economist at the Brazilian reserve bank, explained that the CBDC has the possible to stop bank runs in the nation. Related: Binance deals with examination in Brazil, exec summoned to affirm before CongressLast week the Central Bank of Russia has likewise exposed the visual identity of its CBDC, digital ruble. A global ruble sign in a circle, the logo can be found in 4 fundamental color mixes: red and white or black and white.Magazine: Girl Gone Crypto believes BREAKING crypto news tweets are uninteresting: Hall of Flame

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