> Banco Central controls the core, and that's all it needs to. This is good design. Descentralized, modern, resilient and efficient.
I agree. But was that not the case before Pix/SPI? It really didn’t change the status quo.
The STR (transfer reserve system), which SPI is still fully dependent in practice btw, is decentralized, modern and efficient.
The biggest change here was scale and adoption by private banks and end users, not sovereign infra.
That is an offshoot topic which is, in my opinion, irrelevant for the sovereignty discussion.
I'm here just to clear out the confusion regarding the infrastructural pieces. The core PIX is undeniably sovereign and state-owned, and the Amazon downtime was lack of resilience on the part of the banks (which they could have totally designed around but decided not to).