What Comes Next
summary
Conclusion stresses a clear Brazil moment with institutions and builders forming a barbell of institutions and builders around the blockchain, regulators open to engagement, and a mandate to do the hard work first — primitives like key rotation and quantum resistance already exist from 12 years ago. Emphasis lands on assets: prefer on‑chain but recognize assets can be useful without moving, collateral and yield matter, stablecoins are far from done (tens of billions today), and product design must abstract complexity while respecting local nuance — five minutes past midnight.
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