I don’t know what PIX is, I haven’t heard, I’m going to talk to Campos Neto‘, states Jair Bolsonaro

President said he didn’t know what PIX was and that he wasn’t even aware of the new system of the Central Bank of Brazil

PIX, the new payment system of the Central Bank of Brazil, promises to be a revolution in the national financial system.

However, although the Central Bank has been developing the system for more than a year and is one of the main projects of the Central Bank, on this second (05) day of the official launch of PIX, the President of Brazil, Jair Bolsonaro, declared that he does not know the system.

Addressed by a journalist on Monday morning and congratulated on the system, the President declared that he did not know what the system was and had not heard of its launch.

„I didn’t know, I’m going to talk to Roberto Campos this week,“ the president replied, in relation to the president of the Central Bank.

Civil Aviation

Before answering that he did not know what PIX was, when asked about the system, the President showed total ignorance of the system and went so far as to say that it would unbureaucratise everything about ‚civil aviation‘.

„There is a document there from the Tarcísio (Infrastructure Minister) class this week that will practically deregulate, de-bureaucratise everything about civil aviation there, pilot’s licence,“ said Bolsonaro.

PIX already has 200,000 keys

However, while the president is unaware of the system, the Central Bank revealed that it has already received 200,000 keys for PIX.

Still according to the Central Bank, the number was surprising and was not expected by the institution in such a short time.

In the first hour of casdastramenteo alone 50,000 keys were registered.

However, as each citizen can have up to 5 keys in PIX, it was not disclosed how many different people had already joined the system.

Digital Currency

PIX promises to revolutionise the national financial system and, with it, payments between people.

According to the president of the Central Bank, Roberto Campos Neto, PIX may even result in the creation of a Digital Currency (CBDC) for Brazil.

According to Campos Neto, the national currency needs to be „perfected“ and for this reason, the Central Bank plans that the process of modernization of the economy will result in a digital currency for Brazil.

„We see from now on the union of an instant, open and interoperable form of payment with an open data system. Where it is at some point up ahead along with a currency that has to be perfected. We have a project to simplify the exchange closing processes that will combine with a convertible currency (…) Up front we see a much more digitalized world with a digital currency,“ Campos Neto revealed.