The digital currency issued by the Central Bank of Brazil (CBDC), previously commonly known as the “digital real”, has received its official name – Drex.
On August 7, the Central Bank of Brazil issued a press release revealing and explaining the new branding for its CBDC. developed by the central bank, Brand “Drax” is an acronym,
“‘D’ and ‘R’ point to the real digital; ‘E’ stands for electronic and ‘X’ conveys the idea of modernity and connection, the use of distributed ledger technology (DLT).”
In addition to the brand name, the central bank revealed Drax’s visual identity. In the CBDC logo, the two arrows, including the large D, represent the development of the digital version of the national currency, the real, while transitioning from blue to light green. Suggest completed transaction message,
In July, Pedro Magalhães, a blockchain developer and founder of technology consultancy Iora Labs, allegedly discovered the Drexel code. Acts that would allow a central authority to withhold funds or reduce balances, Last year, Fabio Araújo, an economist at Brazil’s central bank, clarified that a CBDC has the potential to halt bank operations in the country.
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Last week, Even the Central Bank of Russia has revealed the graphic identity of its CBDC, Digital ruble. The logo, which depicts the international ruble symbol inside a circle, comes in four basic color combinations: red and white or black and white.
Translation by Walter Rizzo