Pedro Magalhães, a blockchain developer who claims to have reverse-engineered Brazil’s pilot CBDC has found code that would allow accounts to be frozen or drained at will. A blockchain developer who claims to have reverse-engineered the source code of Brazil’s pilot central bank digital currency has discovered functions in the code that would allow a…
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According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later,…
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The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between different [distrubuted ledger technology]-based CBDC…
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