Approaches to a Central Bank Digital Currency in Brazil

What would it look like if Brazil introduced a central bank digital currency (CBDC) for use by the public? This paper will focus on three potential archetypes: 1) a simple electronic version of the banknote; 2) an account-based CBDC that pays interest, and; 3) digital interest-paying cash that can be shielded and unshielded to provide for anonymity.

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