The BRICS work on a blockchain payment system

The BRICS group, which challenges the so-called hegemony of the dollar, is betting on a payment system based on blockchain technology, with a clear trend in favor of cryptocurrencies

The countries that make up the BRICS group are now betting on a more convenient payment system, based on blockchain technology. The objective is, from the beginning, to free ourselves from economic and financial dependence on the US dollar.

The BRICS – Brazil, Russia, India, China and South Africa – believe that the key is to “make sure it is convenient for governments, ordinary people and businesses, as well as profitable and free of politics.”

The leaders of these nations seek a permanent commitment to increase payments and transactions in their national currency, as well as “strengthen correspondent banking networks to ensure secure international transactions.”

The leaders of the BRICS countries are already talking about a “new digital paradigm”, as a single united front against dependence on the dollar.

Added to this are initiatives to create its own digital currency, such as in the case of Russia, with the digital ruble that facilitates “cross-border settlements and strengthens Russia’s global financial position.”

This is just one example of the current efforts of the BRICS in the dynamics of the world economic order, relying on blockchain technology.


Source: beincrypto

(Reference image source: @BRICSinfo, X)

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