The Brazilian central bank's digital currency (CBDC), a tokenized form of the digital real, has successfully completed a public blockchain pilot test, crypto media outlet Blockchain.com reported on February 27.

The testing made use of the public Stellar blockchain and all the steps that a typical user would need to take to utilize a tokenized, on-chain version of the digital real, including traceability, know your customer, and antifraud protocols developed from a digital decentralized identity system.

In order to make these transactions compatible with Mercado Bitcoin Pay, the platform utilized by Mercado Bitcoin to execute the transactions, Clearsale and CPQD handled the digital identification chores and handled ID and fraud protection procedures.

The completed test is only one of several initiatives being carried out to evaluate how the digital real would behave in various scenarios. Being one of the nine organizations chosen by the Central Bank of Brazil to conduct these experiments as part of the unique Laboratory of Financial and Technological Innovations (LIFT) challenge released in 2022, Mercado Bitcoin is one of them.

Source: BITCOIN.COM