alt Hacker News> Since 2022, Mastercard Brazil’s CEO, Marcelo Tangioni, has voiced his concerns: “Pix is great, beneficial for the industry. What’s not great is that it falls under the Central Bank. It can’t regulate and compete at the same time”.
Why not? This is such an American point of view that sounds similar to why the IRS doesn't offer easier tax filing options.
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He's got a point though. Pix is a revolutionary system, but it is also a deeply centralized system, at the hands of the brazilian government no less. Pix is already 100% surveilled. With the widespread adoption of pix by the public, some nightmarish scenarios have entered the realm of possibility. I've seen law proposals to criminalize possession of physical cash.
Not defending credit card companies, just pointing out the fact that there are risks associated with pix that must be considered.
This is a free market. All he has to do is offer a better service than the public offering.
I always hear that the government is inefficient, should be easy no?