Local media sources report that the Central Bank of Brazil has decided to forgo the decentralized aspect of its Central Bank Digital Currency (CBDC) initiative in order to meet its target launch date of 2026. This decision stems primarily from the current inadequacies of the proposed privacy solutions.
In an effort to expedite the rollout of the Brazilian CBDC, the central bank will move away from blockchain technology. This shift is intended to address existing challenges and ensure a more efficient implementation process.
