Posted on 08/19/2023 11:19:41 AM PDT by Roman_War_Criminal
It’s official: the Brazilian Central Bank has announced the introduction of its CBDC (Central Bank Digital Currency). It’s called DREX, the acronym for Digital Real Electronic X (real is Brazil’s currency), and the finished logo reveals the project is, in fact, quite advanced. Here’s the meat of the Central Bank’s press release:
DREX is coming to facilitate the life of Brazilians. With a new face, our Central Bank Digital Currency project – created and operated by the Brazilian Central Bank – has its own name. Previously called Real Digital, it will provide a safe and regulated environment for new businesses and more democratic access to the benefits of digitalizing the economy for citizens and entrepreneurs.
The brand, developed by the Central Bank, the combination of letters creates a word with strong and modern sonority; D and R allude to Real Digital; E comes from electronic, and the X gives the idea of modernity and connection, or the use of Distributed Ledger Technology (DLT) adopted by DREX, giving continuity to the family of Central bank solutions created by the Pix.
(Excerpt) Read more at activistpost.com ...
WTF?
I bet they said that with a straight face
Has Brazil hired thousands of IRS agents recently?
And are they shooting each other as they train to shoot civilians?
Clearly, they aren’t concerned with what the English speaking world thinks of their drek.
don’t need them with digital money. the computer can collect the taxes on it’s own.
how neat is that? /s
Lulu has already confiscated the citizens guns.
Look what the leftists are doing, to Brazils
Ex-president Bolsonaro. You could insert “Trump” here:
“BRASILIA (Reuters) -Former Brazilian President Jair Bolsonaro faced mounting legal pressure on Friday, as police probed his personal finances and communications while a jailed former aide mulled testifying about his role in a Rolex-peddling scheme allegedly masterminded by the ex-president.
Bolsonaro, a far-right former army captain, narrowly missed re-election last year when he lost to President Luiz Inacio Lula da Silva in Brazil’s most fraught vote in a generation. Bolsonaro’s baseless claims of electoral fraud culminated in his supporters’ Jan. 8 invasion of government buildings, and his legal troubles have multiplied ever since.
The former president has faced a congressional inquiry surrounding the Jan. 8 insurrection and multiple police probes overseen by the Supreme Court. At least two of his close allies who spoke with Reuters this week wondered if he may soon end up behind bars.”
These aren’t isolated incidents.
The Central Bank also declared DREX is being tested by selected institutions and is set to be launched for the general public by the end of 2024.
At least we will be able to see the disaster happen in another country before it happens here.
Wait until they find out the banks can “turn off” the digital currency in their pocket and in their bank accounts and investments...
FWIW, I'm back from a recent trip to the EU. I was dismayed at several points where I was simply not allowed to pay for things using cash currency. Using a chipped credit card was required (despite the extra bank charge that would implicitly incurred). I'm confident that it's all prep and mass psychosis in action on the way to fulfill the plan for CBDC.
“set to be launched for the general public by the end of 2024.”
.
Will it make it through to 2026 before it gets hacked?
Or will it take longer?
.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.