Brazil, Russia, India, China and South Africa – the five nations constituting the BRICS – have just announced their desire to create a common cryptocurrency for their reciprocal transactions.
Driven in particular by Russia, a future crypto-payment system will aim to streamline transactions between the 5 nations, representing 3 billion people alone, or almost half of Humanity! The SWIFT system and the dollar could well live their last moments in these territories which firmly intend to impose their new vision of future monetary equilibrium. And guess with what innovative monetary tools the BRICS countries intend to come to an end?
BRICS after BRICS
The 11th annual summit of BRICS was held from Tuesday, November 12 to Thursday, November 14, in Brasilia (Brazil). In accordance with its ideological line, the summit was an ode to multilateralism and the rejection of all protectionism, particularly that supposing to become again “Great Again”… A posture that can be summed up in the final declaration of the summit:
“It is essential that WTO members avoid unilateral and protectionist measures”
The 5 BRICS nations is 3 billion people (40% of the world’s population) and, according to projections, 40% of the planet’s GDP by 2025.
And what is missing from this association of common interests to be able to compete head-on with a certain hegemonic power that speaks English and has managed to make its currency an international standard? Another currency, just as powerful but faster, cheaper and more resilient …a bit like Bitcoin.
But minds are not yet ready to recognize this evidence – It will come – , the BRICS summit was simply an opportunity to announce more soberly the desire to set up a common cryptocurrency.
Towards a BRICS-Coin?
It’s here Russia who seems to have taken the lead on the subject. It may indeed have been held that the China With the possible imminent launch of its own state crypto, would pass for a little too enterprising on the subject.
This is how Kirill Dmitriev, CEO of Russian Direct Investment Fund (RDIF), a $ 10 billion sovereign wealth fund linked to the Russian government, who was tasked with announcing the project: the establishment of a single payment system between BRICS nations, via transactions using a common cryptographic currency.
“An efficient BRICS internal payment system can stimulate payments in national currencies and guarantee the stability of payments and investments between our countries, which represent more than 20% of the world inflow of foreign direct investments” Kirill Dmitriev
History does not say, however, whether Russia plans to finance its share of this common cryptocurrency with the 450 million dollars in crypto embezzled by the FSB.
Kirill Dmitriev welcomes one figure in particular: the dollar’s share in BRICS foreign trade regulations increased from 92% to 50% in the past five years. The establishment of a common cryptocurrency will thus aim to confirm this trend with the long-term ambition to create a fully dollar and SWIFT-proof ecosystem.
No date has been announced for the launch of this crypto (inevitably a stablecoin), which by the way does not even have a baptismal name. In any event, the event will be one of the beginnings of the New Monetary World Order that the so-called “emerging” nations are calling for … and that the United States will fight – in the most literal way that is necessary – with the latest energy, be sure.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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