Brazil Stock Exchange looking to bolster the utility of Brazil’s anticipated CBDC, the real, by using oracles
The Brazilian Stock Exchange, which offers trading of Bitcoin Exchange Traded Funds, is looking to provide oracles, which are external smart contract-based data sources, to connect to Brazil’s anticipated CBDC, set to pilot in 2023. The crypto Exchange Traded Fund is one of the few stock exchange listings in the world, after Canada and Malaysia.
One of the benefits it could bring, according to Luis Kondic, the general manager of listed products and data at the Brazilian stock exchange, is automatic profit distribution for shareholders based on Oracle inputs from the exchange. Payments to suppliers in a supply chain and automatic debt settlement are other possible applications, according to a statement made during an online Brazilian CBDC event on Thursday, 30 September 2021.