Central Bank of Brazil faces privacy challenges in Digital National Currency project
The Central Bank of Brazil stated in a report on the results of the first phase of the Digital National Currency experimental project that none of the tested solutions could meet the project’s privacy requirements. Three solutions – Zether from JPMorgan and Consensys, Rayls from Parfin, and Starlight from EY – were tested in this project, but all failed to meet the needs by obscuring transaction details from authorities, thus eliminating legal oversight. The Central Bank of Brazil has announced that resolving this issue is a top priority and will not start the second phase of the project until a suitable solution is found.
