The president of the Central Bank (BC), Roberto Campos Neto, spoke about the challenges of digitalizing the financial market. According to him, the “tokenization movement” of assets should greatly impact the economy.
Campos Neto spoke about tokens recently at Valor’s Crypto Summit Rio 2022. Valor Capital Group organized the event. The president of the Brazilian Central Bank believes that tokenization is at the center of the economic debate.
Thus, the tokenization movement would be more critical for the economy than crypto assets and currencies issued by central banks, also known as CBDCs.
Campos Neto argues that the tokenization of the economy is a technological trend that should consolidate itself in the financial market. In other words, for him, the digitalization of the economy can create more inclusive forms of investment besides reducing the cost of financial operations.
The tokenization of the economy
The president of the Central Bank points out the creation of digital tokens from financial assets as the main trend in the digitalized economy. So he says tokens should be “at the center of the debate” about this change in the financial market.
Before talking about digital assets, Campos Neto said he was pleased to speak about the impact on the economy caused by tokenization rather than inflation.
Recently, the Central Bank warned that inflation would continue to rise in Brazil. Meanwhile, the country is preparing to test the pilot project of its own CBDC in 2023, the digital real.