Brazil's government-run payments system has become dominant

I've been living in Brazil for the last 20 years.

Pix revolutionised the way we transact in Brazil. I've used Pix to pay for things that cost only cents, and I have a friend who bought her house using Pix. The system just works for any transfer amount. And it's so easy to use.

Its speed is truly baffling, and so is its reliability. Never have I failed to make a Pix payment because of downtime. I never cease to be amazed by how fast money arrives in my Brazilian account when I make a withdrawal directly from my EUR wallet on Wise. I receive a push notification from my Brazilian bank before Wise finishes running the animation of confirmation of withdrawal. It's like magic.

And it's so widespread that nowadays I don't even question whether someone accepts Pix. When I get in a taxi, no matter how old the driver is, it's certain that they take (and prefer) Pix.

I've even had homeless people ask me for Pix instead of change on multiple occasions.

Cryptocurrencies don't stand a chance.

Interestig, but this is also worrying to know that the government now knows exactly what you bought, where, when, and for how much. They can also (if there's a rogue government) create fake transactions to implicate you in things you haven't done

> this is also worrying to know that the government now knows exactly what you bought, where, when, and for how much

As a citizen of a still kind-of-functioning democracy, I'd happily make the trade if that means Apple, Google, Visa or Mastercard don't have the information anymore.

I don't think you've thought that through - fascists and communists both have more control over the institutions of democracy than they do over those companies. The banking companies generally don't want to be involved in anything ideological except moneymaking.

Correct. Moreover, when you are trapped by the government, few things work better than raising international awareness. Even if the companies ultimately comply, that is typically done loud and clear, and eventually snowball until it's unsustainable.