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Has Brazil Invented the Future of Money?
And will it ever come to America?
On Thursday the House also passed a bill that would bar the Federal Reserve from creating a central bank digital currency(CBDC), or even studying the idea. I can’t help noticing that Pix is actually achieving what cryptocurrency boosters claimed, falsely, to be able to deliver through the blockchain — low transaction costs and financial inclusion. In fact, the Trump administration suggests that Pix’s mere existence in Brazil constitutes unfair competition for U.S. credit and debit card companies.
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