Análise comparativa de moedas digitais: DREX E TETHER (stablecoin)

Abstract

The comparative study explores the evolution of digital currencies, focusing on the comparison between two of them: DREX and TETHER. It begins with a theoretical basis on the essential functions of currency in an economy, highlighting the importance of stability for the success of a currency. The section on Stablecoins explores the need for this specific type of cryptocurrency, designed to mitigate the volatility associated with other digital currencies like Bitcoin and Ethereum. The study also addresses a case study on the implications of Stablecoins on monetary sovereignty, considering risks and benefits associated with their large-scale use. There is a special emphasis on bank runs and the need for regulation to mitigate risks. The second part of the study focuses on DREX, a Central Bank Digital Currency (CBDC) in the analysis comprising a comparison between the volatilities of cryptocurrencies and Stablecoins, highlighting the importance of stability for the success of a currency. The study concludes by highlighting the need for continued monitoring and regulation, highlighting that although Stablecoins do not currently pose a real threat to the US dollar, they are a valuable alternative that is constantly evolving on the global financial landscape. The text discusses the technology and security behind digital currencies issued by the central bank (CBDCs) and Brazil's Real Digital (DREX), highlighting the use of technologies such as blockchain, smart contracts and advanced cryptography to ensure the security and efficiency of transactions . A comparative study of DREX and TETHER white papers reveals that DREX stands out for its innovation in scalability and efficiency, while TETHER focuses on stability and dollar parity. The infrastructure and technology of each cryptocurrency reflects its specific priorities and objectives, and its security characteristics and resilience to market shocks are also distinct. Both currencies face unique challenges and opportunities related to market reach and the constantly evolving regulatory environment. TETHER's stability contributes to its adoption, while DREX, as a new market entry, faces recognition and regulation challenges. Transparency and the ability to comply with regulatory requirements are essential for DREX's accessibility. Regulation plays a role in determining DREX autonomy. In summary, the study offers insight into the specific characteristics of each digital currency, as well as the specific opportunities and challenges they face in a constantly evolving environment, highlighting the importance of stability, security and regulation for the success and ease of digital currencies.