Digital Real in Business: Companies Should Prepare for Use, Recommends Specialist

The financial sector has been one of the main drivers of the digital area. The entry of fintechs and the use of technologies have spurred the industry to modernize and seek solutions for consumers. That’s according to Caroline Capitani, VP of Digital Design and Innovation at ilegra, a design and software company. Faced with the mantra “it is important to work on issues that will promote transformation,” ilegra has developed an educational trilogy on Digital Real.

The initiative aims to help companies take a step forward in preparing for the arrival of Drex, the virtual currency of the Central Bank of Brazil.

Digital Real: What is the Impact?

The success of the new BC technology will be associated with use cases that will impact the chains of these products or services, according to Caroline.

With the spread of digital real, the buying and selling of vehicles and real estate, for example, could be facilitated. It is an operation linked to a contract, something that presupposes security.

PIX, launched at the end of 2020, was an immediate success. In a matter of months, the payment method became popular and started to be adopted in various establishments for various services.

However, Drex is expected to have a slower trajectory. Caroline believes it won’t be a revolution as rapid, despite believing in its impact.

“The spread of digital real should be more gradual, not as cross-border as PIX, which was the solution for many sectors and services. Companies will need to be insightful in finding how technology can be a solution to their businesses, to bring real gains,” she says.

Currently, about 110 countries are working on their own digital currency. However, each has a different reality, so the processes vary.

“In Canada, for example, they plan a cashless society (without physical currency). In Brazil, a large country with different socioeconomic and cultural characteristics, including access to information, this is not yet possible,” notes Capitani.

Nevertheless, the expert says that the Brazilian financial system is advanced compared to some countries with developed markets, such as the United States. The country has developed its own PIX, the FedNow, recently.

Until then, Americans had a system that did not allow transfers on weekends. In addition, resources could take hours or days to become available.

Financial Education for Freedom of Choice

In the face of so many transformations and technological advances, Brazilians may face difficulties in adapting to the use of new solutions.

To address this, ilegra has decided to create educational and practical material for companies. “We understand that these changes require literacy, hence the trilogy. It is not easy for the population to update themselves on these changes, including theoretical and technical issues,” explains Caroline.

At the moment, Caroline sees that Digital Real will be more focused on the “wholesale,” for institutions, but she evaluates that down the line, it will have an impact at the end-user level, “hence the importance of this education period.”

“With very rapid changes, executives have increasingly recognized the importance of the agenda – also because companies don’t want to be left behind. There is an acceleration in the education of those involved with the pilot, but the subject needs to gain more relevance,” she says.

“The richest thing about these transformations is the freedom of choice it provides to people. There is a relevant social and corporate responsibility in this matter of digital real, with companies bringing advantages and putting the user at the center, aiming to deliver value,” evaluates Caroline.

This interview was originally published on the Eu Quero Investir Portal.