Brazil Stock Exchange (B3), one of the world’s few exchanges trading Bitcoin (BTC) exchange-traded funds (ETFs), is exploring ways to provide data inputs for the country’s central bank digital currency (CBDC).
Luis Kondic, managing director of listed products and data at B3, claimed that the stock exchange is considering providing oracles to bridge external data with Brazil’s projected CBDC, the digital real. The executive provided his remarks at a CBDC-related online event hosted by the Central Bank of Brazil on Sept. 30, according to reports.
“We are looking at it and evaluating the best ways to interact and participate in this ecosystem. However, I believe this is something for us to evolve and move forward to meet the future needs of this programmable cash payments system,” Kondic said.
Oracles are a crucial part of smart contracts, providing data feeds from external sources to execute smart contacts under specific conditions. According to Kondic, smart contracts can potentially enable several benefits for the Brazilian CBDC, including implementing automatic profit distribution based on B3’s oracle inputs.
Credit : Today.ng
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate