TechFlow news: On December 28, Brazilian congresswoman Julia Zanatta warned that physical cash could face the risk of disappearing as the country advances in implementing its central bank digital currency (CBDC), "drex." She opposes a bill that would phase out cash by 2025, arguing that drex usage should remain voluntary to protect economic freedom. Zanatta highlighted several risks, including social control, lack of privacy, and potential financial difficulties for people unfamiliar with technology.
Zanatta also called for raising public awareness and suggested holding a national referendum to decide drex's future, emphasizing that such a significant change should involve citizen participation in decision-making. Currently, due to privacy concerns, the drex pilot project is facing delays.
