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President of the Central Bank of Brazil had a closed meeting with the CEO of Ripple


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Posted (edited)
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Banks are becoming information companies, ”said the BC president during an event in March 2019, just weeks after taking office.

I find that insight extraordinary.  Never heard it put like that before and intuitively I think that might be one fat nail hit squarely on the head.

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Brazil is already responsible for no less than 30% of Ripple's money transfer operations. The company is looking at international remittances of funds among individuals.

Crypto Eri was remarking on that statistic recently.  30%!   And I think I heard Ripple are employing a fair sized team in Brazil.

 

Tremors before an earthquake?

Edited by Julian_Williams
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Posted (edited)

Instant recall of this from February

https://ourbitcoinnews.com/pix-the-central-bank-system-that-will-allow-instant-payments-24-hours-a-day/

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" During an interview on Globo News on Tuesday*, the president of the Central Bank, Roberto Campos Neto, revealed the name of the instant payment system that will be launched by the municipality – it will be called Pix.

However, Campos Neto, who spoke to the broadcaster about new technologies for the economic sector, said he ended up revealing his name by accident.

He opened the matter himself, when he commented that the Central Bank was about to launch an instant payment system and that his team had even chosen a name the day before.

The comment, then, made journalists curious. "Which is? What does that mean? ”, They asked.

"Pix," he replied. 

* link may be broken http://g1.globo.com/globo-news/videos/v/roberto-campos-neto-e-os-riscos-para-a-economia-brasileira/8318227/

 

 

Edited by CountZerpula
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It's just interesting @cannylad because this was one of the few things I remember about Pix

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 ...[Pix] is not a blockchain-based system. It makes use of a centralized database, owned and operated by the central bank of Brazil.

https://cointelegraph.com/news/brazils-pix-payments-system-has-the-same-spirit-but-not-a-blockchain-structure

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... the way we see it is to have a system that will be totally interoperable and instant and that will meet the system that allows everyone to open their data and open their account for specific financial services. So it's as if you had interoperability and speed, agility, joining the openness and then between these two paths we have the development of Fintechs that I think will consolidate this system.

https://cointelegraph.com.br/news/urgente-sistema-de-pagamentos-instantaneos-e-uma-resposta-do-banco-central-ao-bitcoin-e-criptomoedas-diz-campos-neto

and now this

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The following representatives of Ripple participated: the Executive Director and member of the Collegiate Board, Brad Garlinghouse; Ben Lawsky, member of the Board of Directors; Eric van Miltemburg, Senior Vice President, Global Operations; and Luiz Antonio Sacco, Vice President of Global Operations and Director General for Latin America.

In addition to Campos Neto, other members of the BC board of directors were also present. Among them João Manoel Pinho de Mello, director of the Financial System and Resolution Organization; and Otavio Ribeiro Damaso, Director of Regulation

should be interesting to see what they have cooking over there

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59 minutes ago, CountZerpula said:

don't really want to say anymore incase I jinx it all lol, been a Millionaire once with XRP would like to be again, greed on my part 

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Here's the webinar Campos Neto participated in leading into the closed meeting. Listed just before the meeting on his agenda; organized by Valor Capital

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During the conversation, the participants will talk about the Brazilian economic scenario, new open bank applications and means of payment, as well as other global FinTech and blockchain solutions, designed for small and medium-sized companies.

 

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Also worth noting ... @CryptoEri does a nice job here describing the functionality of PIX as of when it was first announced - noting that "there is not a cross border functionality in this payment system - at present"

Will that be changing soon? RippleNet member dLocal writes an interesting blog post April 3rd

https://dlocal.com/blog/markets-consumers/pix-a-guide-through-brazils-new-instant-payment-system/

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Record-breaking opportunity for cross-border merchants

Merchants operating with a cross-border model in Brazil will gain a unique opportunity to boost local reach surfing this wave. A potential number of 45 million adults will be encouraged to use the new financial system. With better and faster ways of paying online, Brazilian consumers are expected to enjoy the new ease of online payments and start purchasing new goods and services. The main difference to some digital wallets, which already offer real-time transactions in Brazil, is the reach of PIX as all larger market players do have to fulfill the BCB’s requirements. 

It is expected that due to the reliant and fast characteristics of this new system, it will eventually turn into Brazil’s preferred system for peer-to-peer transfers. Especially if you consider the huge lack of online payment Brazil is experiencing at the moment. Cross-border merchants should not wait too long to get ready for PIX, as new technological implementations such as new online payment methods will boost business.

“The project will be the embryo of what I believe is a total transformation in the country’s future financial intermediation, and will consolidate what we understand as the new form of payment methods, with the new fintech industry and with open banking, “ stated Roberto Campos Neto, President of the Central Bank of Brazil during the launch.

 

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On 6/2/2020 at 7:57 PM, cannylad said:

don't really want to say anymore incase I jinx it all lol, been a Millionaire once with XRP would like to be again, greed on my part 

Hey - you're the one that invoked 'blink of an eye' :acute:... you only have yourself to blame for any jinxing :D

And when you quoted me, you included your reply in the same text

I'd made a quick edit to include a link ... now it looks like I deleted that part to hide the evidence, when it was your reference to it :lol: 

so you've dragged us both down

12648733.jpg

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1 hour ago, CountZerpula said:

Hey - you're the one that invoked 'blink of an eye' :acute:... you only have yourself to blame for any jinxing :D

And when you quoted me, you included your reply in the same text

I'd made a quick edit to include a link ... now it looks like I deleted that part to hide the evidence, when it was your reference to it :lol: 

so you've dragged us both down

12648733.jpg

Ahh well there is one good thing about that then, "I am not going down alone again" lol

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