According to Rogério Melfi, manager of TecBan and leader of the Real Digital committee at ABFintechs, NFTs in Brazil are paving the way for the popularization of decentralized finance (DeFi) and the digital Real.
In his view, all these financial technologies should change the way people interact with money and property in an increasingly digital world.
“The growing popularity of NFTs (non-fungible tokens) paves the way for the popularization of DeFi (decentralized finance) and Real Digital, two concepts that are changing the way people interact with money and property.”
For Melfi, NFTs represent virtual goods on blockchain, primarily using the Ethereum network for records.
“It is important to remember that the popularity of NFTs has been heavily driven by the increasing adoption of blockchain technology and the high demand for virtual goods. This has led people to learn more about decentralized technologies and understand how they can be used to ensure ownership and security of digital assets.”
“Digital real is a response to the growth of DeFi,” says TecBan manager
For Rogério Melfi, DeFi refers “to financial applications based on decentralized technologies, such as blockchain, that allow people to access financial services without intermediaries.”
Thus, the expert believes that the digital Real should enter the market in response to DeFi linked to cryptocurrencies.
“In this sense, it is important to emphasize that Real Digital, also known as CBDC (central bank digital currency), may be the traditional financial system’s answer to DeFi, as it is a digital currency issued by the central bank, and has to assign new functionalities to the currency. By offering Brazilians the same transaction security, Real Digital is able to enable financial inclusion, which I think is such an important aspect in our country.”
For the leader of the Real Digital committee at ABFintechs, in an article sent to Livecoins, experimenting with NFTs and DeFi is important to familiarize yourself with new concepts of money manipulation.
Finally, the expert believes that the digital Real should arrive in 2024 after several tests by the Central Bank of Brazil, avoiding scalability and security issues. He believes that the new Brazilian currency will be available at retail in the near future for use by the populace in their day-to-day transactions.
It is worth remembering that the Central Bank of Brazil itself has already confirmed the digital Real pilot program in 2023 and must start testing in a controlled environment from the very beginning.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.