BRICS eye stifling US dollar influence with blockchain-based payment system
Russia is reportedly banking on the planned blockchain-based payment system to reduce the U.S. dollar's global influence, seeking help from other BRICS members.
Russia is reportedly banking on the planned blockchain-based payment system to reduce the U.S. dollar's global influence, seeking help from other BRICS members.
The proposed BRICS Bridge system draws inspiration from the BIS-backed mBridge platform, with China and the United Arab Emirates already recording initial successes.
As Bitcoin gains traction, it could reshape global power structures, spur innovation, and promote financial inclusivity. This shift could prove to be a net good for freedom and prosperity worldwide.
India and Russia should take the lead in forming a financial relationship to ultimately create a new common currency, according to State Duma Deputy Chairman Alexander Babakov.
The President of Iran has called on Muslim nations to develop a cryptocurrency that could help them avoid using the USD, reducing the U.S economic dominance.