Microsoft and BBChain collaborate on platform for simulating operations with Brazil’s digital currency

Brazilian startup BBChain has partnered with technology giant Microsoft to create a virtual environment for simulating operations with Brazil’s central bank digital currency (CBDC) project, known as Real Digital.

The platform, hosted on Microsoft Azure, aims to enable companies to test products and potential business models related to the CBDC.

The platform utilizes a Sandbox model, providing an isolated testing environment with enhanced security. It is built on the Hyperledger Besu network, the same technology used in the Real Digital pilot tests.

BBChain highlights that Hyperledger Besu offers customizable features such as smart contracts, privacy, scalability, and support for public and private networks.

Interested companies can access the Sandbox through the Microsoft Azure marketplace.

The platform’s purpose is to provide companies with detailed data and insights on costs, risks, and returns associated with Real Digital.

It allows for experimentation with various functions, including asset issuance, tokenization, and transactions like Delivery Versus Payment (DVP).

The platform enables companies to create their own business cases without having to wait for the official launch of Real Digital, which is expected at the end of 2024 after the pilot phase.

The project’s advantages include the scalability provided by cloud hosting, allowing for flexible testing and computing capacity management based on each company’s needs.

This feature aims to facilitate participation from both large and small businesses by offering cost compatibility.

BBChain aims to expand the platform and make it accessible to the broader public, fostering greater participation and growth opportunities.

Microsoft emphasizes the transformative potential of Azure in driving digital business growth, enabling efficient data management and blockchain implementation.

The collaboration seeks to optimize resources, increase productivity, and support companies in their digital transformation endeavors.

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.