As you correctly pointed out, this is a gradual move where every country goes through the dedollarisation process
The 15th BRICS summit is going to be very interesting which will be held on 22 – 24 August (about a month from now) and some are saying the BRICS new currency will be revealed then. This could potentially have a significant effect on the ongoing dedollarisation around the globe.
I agree that a more decentralization of global currencies, it will be better and less shocks from any big change in the USA. and US dollar. However, new currency from multilateral union will have many challenge to increase and maintain their power as well as competitiveness in global economy.
In 2022,
The Euro currency lost its parity with the US. dollar is example. BRICS currency will have same or even bigger challenge because it is a newborn currency and we have to think BRICS are stronger then the Euro zone or weaker.
Like bitcoin, when it is just a new product, there will always be a lot of challenges to face, but as long as it has real potential, it will overcome them all. The new BRICS currency will face many difficulties at first, but if it has the potential and strength, it can completely have a place in the international market. The USD and the Euro have both gone through those challenges before reaching where they are today, so everything needs to be challenged.