Drex’s RWA tokens land Drexit at the central bank, and even though they earn R$20,000 a month, employees leave

Drex’s RWA tokens land Drexit at the central bank, and even though they earn R$20,000 a month, employees leave

While the tests and potential launch of Drex, the Brazilian cryptocurrency, in 2024, have drawn praise from companies and analysts in the country, The development of the digital currency has revealed that employees are evading the Brazilian Central Bank Bound.

The departure of British Columbia employees even had a name, Drexit, a combination of the words drexit and Brexit. (UK movement to leave the European Union). This comes at a time when companies are increasingly interested in the potential of RWA tokens and how they can transform the national economy through Drex.

In this way, many companies They harass Colombian employees with offers of high salaries and positions to coordinate this transformation in the private sector. The result: many of BC’s “elite” employees are leaving the central bank to work in the private sector.

An example of such displacement is Bruno Batavia, who developed Drex, left British Columbia to take a position at management company Valor Capital. Moreover, BC employees are leaving the institution to work in other public departments with better salaries, such as the House of Representatives.

In total, BC can have up to 6,470 employees. However, BC currently has 3,300 active employees, 692 of whom will be retiring soon. in the middle, Central bank employees earn around R$20,924.80 to R$29,832.94. (analysts with higher education) and from R$7,938.81 to R$13,640.89 for technicians (professionals with secondary education).

For the President of ANBCB (National Association of Brazilian Central Bank Analysts), Natacha Rocha, There is a distorted perception of the Brazilian population regarding the wages of BC employees.

“With respect to similar professions, we earn less. This is the case with the Federal Revenue Service and the Prosecutor General’s Office itself, which works with Central Bank analysts and earns more, having opened this contrast since 2016,” he said.

Rocha points out that British Columbia needs a highly specialized workforce Development of complex products such as Pix, Drex and SVR (System of Value Receivables) and regulation and supervision of the national financial system.

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Drex and Avi

As the central bank tries to balance the innovation bill with the staff needed to implement advances in the digital economy, the institution has announced that integrating Drex with Ethereum and other public blockchains is one of the priorities for 2024, according to Fabio Araujo, an official with the National CBDC Project.

Currently, Drex is running its tests on Hyperledger Besu, a proprietary blockchain platform, but it is compatible with EVM, the Ethereum virtual machine, and can therefore be integrated with all blockchains and tokens that also use EVM.

Some of the public blockchains compatible with EVM and Drex are BNB Chain, Avalanche, Cardano, Solana, Polygon, Optimism, Arbitrum, Tron, Optimism, Fantom, zkSync, Cosmos, and others.

However, Araujo highlighted at the event that this integration with public blockchains will also be controlled by BC and will have to be implemented through KYC and money laundering prevention processes.

“Naturally, we will allow the Drex token to be issued in public environments through a central bank regulated agent. This way, BC has control over who issues the issue.”

Araujo also revealed at the event that BC has tested several solutions to ensure Drex’s integration with public blockchains, including the Aave protocol, and that in this case, it is important to ensure the interoperability, security and regulatory requirements of the selected solution.

The BC executive also highlighted that the central bank was talking with the Securities and Exchange Commission (CVM) and other entities like Detran to enable all Drex functions that interface with other institutions such as vehicle tokenization, real estate, securities among others.

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About the Author: Camelia Kirk

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