Quote from: boss.afro on December 17, 2018, 01:22:04 PM

The state Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

A pilot project for the release of the BNDES token on the basis of Ethereum will start in January next year. At first, the coin will be used to Finance cultural institutions. In particular, the Bank will allocate a number of new tokens to the local film Agency.

As notes the edition, experiments with steilcoom the Bank held during 2018. The well-known Ethereum startup ConsenSys will become a consultant of the project for the release of a new "stable coin".

According to representatives of the Bank, the issue of the BNDES coin will help restore public confidence in the state banks of Brazil, which are often criticized because of corruption scandals.

"We can follow the rules prescribed in smart contracts. The recipient company can spend it only on goods and services of companies working in the film industry," said the representative of the Bank Vanessa Almeida.

Also, the Bank is confident that in the future, stablecoin can be used to Finance organizations and projects from various fields.

It should be noted that recently in Brazil there is a tendency to liberalize the regulation of the crypto industry. Thus, in October, the Brazilian securities Commission allowed local investment companies to invest in the cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year, the same financial regulator declared a ban on both direct investment in cryptocurrencies and indirect investment through intermediaries represented by foreign companies.

source forklog.com

If the news information about Ethereum you are giving is real then it's a welcome development to the cryptocurrency community, it also will help boost the world financial economy and create liquidity