This rings true for a country like Brazil. In 2019 the Central Bank of Brazil created Pix, an instant payment ecosystem that allows people, companies, and government entities to send and receive payments in a matter of seconds, 24/7 and 365. In an attempt to move the population away from cash, this government-backed standardization led to more financial inclusion and efficiency across the board. Brazilian financial services companies and fintech startups began working with the system, and its introduction meant a lot to local Brazilians, especially for those unbanked or in the informal economy, who use their unique chave, or key,
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