Re: 11 more countries just joined BRICS this week

Quote from: Die_empty on July 20, 2025, 11:00:17 AM

The move to create an alternative to SWIFT might be slow but it's gradually gaining momentum. BRICS Pay is a payment platform used by member nations for financial transactions without using SWIFT. Since 2023 Brazil and China have eliminated the use of dollars for trade. Rather, trade deals are settled with local currencies. China and India also have agreements to adopt local currencies in their trade deals. Other countries are also adopting the same strategy to bypass the Western-controlled payment system.

https://m.economictimes.com/news/economy/foreign-trade/india-china-have-agreed-to-cooperate-in-paying-in-local-currency-for-imports-maldives/articleshow/110329147.cms

https://www.lexology.com/library/detail.aspx?g=db9df4b9-2b1d-48a7-be4d-ef74ff375d79#:~:text=In%20March%202023%2C%20Brazil%20and,trade%20in%20their%20local%20currencies.

Well, if BRICS Pay doesn't make use of a Blockchain then it will be as inefficient as its counterpart. BRICS needs to show superiority. And what better way to do this than making use of the latest technologies? A Blockchain-powered payments system would be truly-unstoppable. It would be even better if BRICS used a single currency for transfers that's backed by Bitcoin. The possibilities are endless.

Donald Trump's actions will only fuel "de-dollarization" efforts. I guess it's too late to put a stop to BRICS. Not even higher tariffs will do the trick. We're living in uncertain times, so anything's possible.