The Central Bank's new payment system, PIX Pagamentos Instantamentos, has been generating a lot of buzz. With individual registration starting in October and scheduled to debut in November, PIX is already moving the financial market, which is preparing for the challenge of 24×7 and processing thousands of transactions per second.
In the debates about the new ecosystem, security and technology are at the center of the discussions of those who wish to operate on the PIX. In a recent interview with the Bitcoin Portal, Fernando Tasso, CEO of PRODIST TECHNOLOGIES, clarified doubts and made warnings, but showed great enthusiasm with the new system:
"The great asset of PIX is the proposal of an agile system, simple from an end-user point of view, that will work 24×7 and with a lot of focus on social inclusion."
A specialist in cryptography for mission-critical systems, Tasso participated in the implementation of the Brazilian Payment System (SPB) in 2002. When asked about the possibility of the issue of technology and security being barriers for institutions, Tasso refuted the hypothesis:
"Being part of something like PIX is absolutely strategic for financial institutions. Security has a cost that is well understood by these institutions. This is in their DNA. They all have a name to uphold and the market offers many products and services suitable for all sizes. When we talk about technology, security and know-how, Brazil is far ahead of most countries. Not only because of what we have already accomplished, but also because of the potential we have to remain on the cutting edge.
To the participating institutions, Tasso left a warning:
"There is no one-size-fits-all encryption solution. The volume and throughput demand of the institutions is one of the main characteristics that must be taken into account. It is not necessary to buy a cannon to kill an ant. The implementation of the PIX, as was the implementation of the SPB in the past, requires a lot of investment, especially from the direct participants. It is necessary not to get the dose wrong so as not to incur heavy investments that could be avoided. In the webinar we held on 23/7, we addressed the topic in greater depth. We presented a roadmap of risks to support companies in choosing cryptographic solutions that actually meet the needs of these companies".
To learn more about the subject, just visit the PRODIST TECHNOLOGIES channel on Youtube and check out the webinar "PIX: Cryptography and Risk Routing" with Fernando Tasso and Pedro Lamarão. To read the article by Rodrigo Borges Delfim, from Bitcoin Portal, click here.