Brazil’s PIX Payments System Has the Same Spirit, but Not a Blockchain Structure
Cointelegraph
Published Feb 28, 2020 02:10PM ET
Updated Feb 28, 2020 03:42PM ET
Brazil’s PIX Payments System Has the Same Spirit, but Not a Blockchain Structure
The Central Bank of Brazil made some waves last week with its new instant payment system. While not blockchain-based, the new system, dubbed PIX, nevertheless is imbued with some of blockchain’s core attributes.
Money transfers have historically been slow, cumbersome and expensive. For example, Bank A takes its fee when a payment is sent and Bank B also charges its fee when the payment is received. More intermediaries mean additional fees and sometimes more delays.
Continue Reading on Coin Telegraph
Get The News You Want
Written By: Cointelegraph
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.