Brazil plans to manage its Bitcoin reserves through public systems using blockchain and artificial intelligence, with full control maintained by the central bank.
Brazil is exploring the creation of a strategic Bitcoin reserve (RESBit) to protect its economy from currency risks. Inspired by El Salvador, this plan proposes using Bitcoin as collateral for Brazil’s digital currency, Drex. The maximum Bitcoin allocation for Brazil’s reserves will be 5%. The country plans to manage its Bitcoin reserves through public systems using blockchain and artificial intelligence (AI), with full control maintained by the central bank. A technology advisory committee, including security experts, will ensure the proper functioning of these reserves. The legislative proposal is currently under review before being sent to committees for discussion.
Source: coingape.com
