PoR

Due to weakened support from external partners, the Brazilian CBDC pilot project Drex is hindered in its privacy solutions

ChainCatcher news, according to Bitcoin.com, Brazil's central bank digital currency (CBDC) pilot project Drex is facing difficulties as the resources allocated to the project have decreased, slowing down its progress and hindering development.The two largest companies involved in designing the project's privacy solutions—Microsoft and Ernst & Young—have recently reduced their manpower dedicated to these efforts. This deadlock is related to the central bank's recent actions, as it ended the second phase of the Drex pilot without approving any projects submitted by participants. The privacy proposals that needed to ensure transaction confidentiality while allowing regulatory review did not meet the central bank's requirements in this regard, leaving the Drex project currently stalled.Ernst & Young, which is responsible for the Starlight privacy project, has lost three personnel involved in the development of this solution. Meanwhile, after investing significant resources last year, Microsoft has also reduced its involvement in the ZKP Nova privacy proposal. However, Microsoft's partner Hamsa will continue to test and support ZKP Nova.Central bank executive secretary Rogerio Lucca recently pointed out that the team behind Drex is still researching the project's future. He stated, "Based on the ongoing test results, the technical team is currently discussing possible future steps for the project." However, he did not disclose the test results.
ChainCatcher Building the Web3 world with innovators