In recent years, coeingeek has reported on Brics’ moves To defeat, form new payment systems and get financial independence from SWIFT and US Dollars.
While some initiatives, for example BRICS -Currencyis premature, the alliance has made efforts to trade with the national currencies of the Member States.
By building on this, Russian Finance Minister Anton Siluanov Tass told us that they are looking at a cross -border payment system with their own currencies “with regard to digital technology and digital financial assets.”
Russia has warmed up to digital currencies and assets
Together with the broader BRICS Alliance, we have reported on how Russia has warmed up to digital currencies and assets.
After the launch of Digital rubles In 2023, the Russian government legalized digital currency rolls in 2024; It evenly Is offered BTC Miners surplus energy at discounted prices in specific regions. The most sanctioned country in the world also legalized the use of digital currencies in international trade and Recently adopted laws To allow rich individuals to invest in them.
By zooming out, a pattern becomes clear: BRICS does not plan to start a new currency unit soon, but its member states make all features to use digital currencies such as BTC and Ethereum in the trade. Most of them also have national digital currencies or Central Bank’s digital currencies (Cbdcs) in different phases, with China’s Digital Yuan to be the most advanced.
If the goal is to defeat and trade in digital national currencies, BRICS is already well on its way. Of course, all efforts will be made to stop this, and US President Donald Trump has made it clear that he will not stand and see it happen without struggle.
There is no need to build a new system because the ultimate already exists
In this author’s opinion, Brics can trade with the national currencies in its Member States if it wishes. However, there is no need to build a new cross -border settlement system from the ground up. In fact, the ultimate general ledge for trading already exists, and to issue CBDCs or digital currencies on it is relatively simple.
The BSV blockchain Follows the principles stated in Satoshi Nakamotos Bitcoin White Paper in 2008. As such, all transactions on blockchain take place, are time -tempted and unchanging registered and cost fractions of a penny. The latest Teranode -upgrade Average BSV can handle one million transactions per second (TPS) against an average fee of $ 0.00001.
BSV also has all advanced functions needed to carry out international trade. It has token protocols that can handle digital currencies, smart contracts to allow Programmable paymentsand automated compliance for trade. As a global, decentralized network, BSV already serves as a combat test, proven global decommissioning network.
While Russia may have some problems, given the current sanctions against it, other Brics nations can freely issue digital currencies and trade with each other without permission. There is no central authority through which issuers must go: India, Brazil, China or others can coin currencies on and start shopping at BSV today.
The disadvantages are limited (some loss of control), and the upside is many: a reliable system that anyone can review, which is already live and is ready to manage the type of transaction entrance the global trade requires, and which no individual unit can censor or control. BSV is nothing like BTC or Ethereum; it was designed from the beginning with payments on scale in mind. BRICS, or any other nation or group of nations, could save years and tens of millions in costs by using the world’s fastest, cheapest settlement system: the original Bitcoin protocol in all its glory.
It is time for all nations to stop trying to flex each other and dictate who can trade with which and under what conditions. Bitcoin was made to let anyone, anywhere, to act freely with anyone, elsewhere, regardless of politics, religion or other attributes. Maybe if we use it as such, we can avoid some of the conflicts that may lie in our future, and humanity can flourish together.
Each unit, whether it is a company, a country or a group of nations that are looking for an advantage or to create alternative payment or cross-border decommissioning systems today, not years in the future, can build on BSV. Entrepreneurs, decision makers, central banks and others should test it and see its fantastic power for themselves.
Look: Teranode is the digital spine in bitcoin
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