Wallets Based on Free Software for Digital Currencies of the Brazilian Central Bank and Circular Economy

• Grant number: 23/09605-4
• Support Opportunities: Scholarships in Brazil - Scientific Initiation
• Start date: October 01, 2023
• End date: November 30, 2023
• Field of knowledge: Physical Sciences and Mathematics - Computer Science - Computer Systems
• Principal Investigator: Arlindo Flávio da Conceição
• Grantee: Caio Bonani Carvalho
• Host Institution: Instituto de Ciência e Tecnologia (ICT). Universidade Federal de São Paulo (UNIFESP). Campus São José dos Campos. São José dos Campos , SP, Brazil

Abstract

CBDCs, or Central Bank Digital Currencies, are digital currencies issued and regulated by Central Banks. They hold the same value as physical money but can have restrictions specifying situations where they are accepted, making them programmable money. Currently, the Central Bank of Brazil (BACEN) is developing the national digital currency, the Digital Real. This project aims to study, develop, and implement digital currencies, including the creation of an application capable of handling them. To simplify the application development stage, an already known open-source solution, customizable to the research interests, was chosen as a base. This application should be compatible with the structure of the Digital Real and have the flexibility to adapt to different scenarios and use cases. The project follows a development approach similar to the one pursued by the Central Bank. To ensure compatibility, the same techniques and technologies used in the development of the Digital Real Pilot will be employed in this project's design. At the end of the project, a study will be conducted with the aim of identifying usability and security features of the developed system. This analysis is necessary to ensure that the system meets the quality and security standards required by a national banking institution, such as the Central Bank.