Brazil’s Central Bank Highlights Tokenization Potential to IMF and World Bank

Odaily Planet Daily Report: The Central Bank of Brazil supports tokenization and "open finance" as key elements of the future financial system. In a joint report by the International Monetary Fund and the World Bank, the bank's president, Roberto Campos Neto, stated that people underestimate the intersection between the two, and believes that tokenization allows programmable payments and widespread open finance to be combined as building blocks, "exploring the ability to build this financial market in a single environment." Campos Neto emphasized the relevance of tokenization to the concept of bank balance sheets and operational efficiency, and stated that banks will gradually shift from viewing balance sheets based on "accounts" to viewing them based on "tokens," which will greatly improve efficiency and productivity. Tokens are more beneficial for banks in managing risks, managing collateral, and financing. (Bitcoin.com)