The Brazilian CBDC pilot project Drex encounters obstacles in privacy solutions due to weakened support from external partners
According to Bitcoin.com, the Central Bank of Brazil's digital currency (CBDC) pilot project Drex is facing difficulties. The progress of the project has slowed down and its development has been hindered due to reduced resources allocated to it. The two largest companies involved in designing privacy solutions for this project - Microsoft and Ernst Young, have recently reduced manpower invested in these tasks. This stalemate is related to recent actions by the central bank, which ended the second phase of the Drex trial without approving any projects submitted by participants. As none of the privacy proposals that need to ensure transaction confidentiality while allowing regulatory scrutiny met the requirements set by central bank, Drex project is currently at a standstill.
Ernst Young, currently responsible for Starlight privacy project, has lost three staff members who were involved in developing this solution. Meanwhile, after investing heavily last year, Microsoft also scaled back its involvement with its ZKP Nova privacy proposal. However, Microsoft's partner Hamsa will continue testing and supporting ZKP Nova. Rogerio Lucca,the executive secretary of Central Bank recently pointed out that team behind drex are still studying future prospects for this project.He said: "Based on ongoing test results,the technical team is currently discussing possible next steps for this Project." But he did not disclose test results.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
McDonald's (MCD.US) sued over AI pricing tool, accused of facilitating algorithmic collusion among U.S. franchisees
McDonald's (MCD.US) is facing a federal lawsuit. The complaint alleges that its AI-enhanced pricing tool violates antitrust laws by sharing non-public data with franchisees who may compete in the same market.
Samsung Electronics delivers its strongest quarterly report ever; can HBM4e restart AI memory trading?
Samsung Electronics is about to face a critical test. The company will release its preliminary results on Thursday, and it is expected to record its largest-ever quarterly operating profit. However, the real test is not the scale of profits, but whether it can convince investors that the demand for memory chips is sustainable and that high product prices can be secured through long-term contracts.
BUZZ - Australian uranium mining stocks surge after Google reaches power deal with Constellation Energy
October 7 - Shares of Australian uranium mining companies surged after Google (GOOGL.O) signed a power agreement with Constellation Energy (CEG.O), the largest nuclear power plant operator in the United States (link). Google (GOOGL) and Constellation Energy (CEG) have entered into a multi-year deal under which Google will purchase 3,590 megawatts of electricity from Constellation; according to both parties, the additional nuclear-generated electricity accounts for roughly a quarter of total supplied power. Uranium is primarily used as fuel for nuclear power plants to generate low-carbon electricity. Boss Energy (BOE.AX) shares rose 9%, reaching their highest level since September 29, while Paladin Energy (PDN.AX) shares climbed over 6%. Deep Yellow (DYL.AX) shares rose nearly 10%, marking their largest intraday gain since September 3. Within the broadly flat ASX200 benchmark index (.AXJO), DYL and PDN ranked among the top gainers. (For the convenience of non-English speakers, Reuters has automatically translated its reports into several other languages. Since automated translations may contain errors or lack the necessary context, Reuters does not guarantee their accuracy and provides them solely for reader convenience. Reuters accepts no responsibility for any damage or loss arising from the use of the automated translation function.)
12.41 million dollars in fee revenue, Pump.fun transferred to an exchange 9 hours ago
Crypto prices
More
