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Brazilian real may not be fully converted into digital currency – Central Bank president

RIO DE JANEIRO, BRAZIL - Central Bank (BC) President Roberto Campos Neto said on Monday, May 24, that digital currencies such as the one being studied by the BC are better suited to digital contracts gaining strength with blockchain platforms, but he stressed that there are still many questions surrounding the new instrument.

In a videoconference promoted by EB Capital private equity firm, Campos Neto said that converting everyone's physical money into digital currency will not be possible, because it would pose a risk to the financial system.

"If it is an extension of physical currency, and can be converted . . .

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