Brazil Stock Exchange (B3) – among the several entities supporting Bitcoin (BTC) exchange-traded funds trading – is reportedly planning to introduce measures for offering data inputs for the nation’s CBDC. 

Specifically, Luis Kondic, managing director of listed products and data at B3, reportedly revealed the exchange’s intention in rolling out oracles, aimed at linking external data with Brazil’s projected CBDC, the digital real. 

“We are looking at it and evaluating the best ways to interact and participate in this ecosystem. However, I believe this is something for us to evolve and move forward to meet the future needs of this programmable cash payments system,” Kondic further remarked, regarding the development. 

Oracles reportedly function as a fundamental component of smart contracts, offering data feeds from external sources, to finalize smart contacts under particular conditions. 

Per Kondic, smart contracts have the ability to bring about a variety of advantages for the Brazilian CBDC, nominally implementing automatic profit distribution based on B3’s oracle inputs.

“There are numerous applications, such as, for example, you can schedule the money to be distributed among shareholders automatically according to the company’s profits; schedule the money for automatic settlement of issuance and payment of receivables or pay suppliers automatically within a distribution chain”. 

Different banks such as the Reserve Bank of New Zealand have reportedly issued details regarding potential smart contract applications for CBDCs, including automatic execution of rent or bill payments.