And if the FED backs the USD with BTC, things will be even better.
That's obviously not possible!
They have $37 trillion debt and are creating $1 trillion more debt every 2-3 months now. Not only they can't back that with bitcoin but the entire global economy can't cover that!
In fact this is the reason why USD is becoming weaker every day. And of course one of the main reasons why the world is slowly abandoning the dollar.
Well, if BRICS Pay doesn't make use of a Blockchain then it will be as inefficient as its counterpart.
Blockchain is the worst option for any payment system that is not decentralized like bitcoin and obviously none of these international payment systems can ever be decentralized. It is just too inefficient to use. The only reason why it works for something like Bitcoin is because its other advantages (decentralized, censorship resistant, deflationary, irreversible transactions, etc.) negates all the disadvantages of blockchain.