Fabio Araujo, Director of the Central Bank of Brazil, mentioned the technological features of Bitcoin in his statement. Araujo described Bitcoin as a financial innovation that enables the emergence of new critical products.
Araujo also noted Bitcoin's role in the emergence of the Web3 concept, as well as triggering the central bank to start researching digital currencies (CBDC).
Araujo, who opposed the use of Bitcoin as a currency, citing its price instability, pointed to CBDC, which eliminates instability, as a payment method instead of Bitcoin.
