🚨 BREAKING NEWS 🚨: Deputy Chairman of the State Duma, Alexander Babakov, has proposed a Unified BRICS Exchange powered by blockchain and virtual currency for inter-bloc trade and settlements, aiming to boost economic sovereignty and reduce dependency on third-party payment systems like the U.S. dollar.
🔑 Key Proposal Highlights:
💡 Unified BRICS Exchange: This newly proposed exchange would allow BRICS nations (Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, and UAE) to settle payments using national currencies or blockchain-based virtual currency.
🌐 Blockchain-Powered Settlements: By leveraging blockchain technology, BRICS members could bypass traditional financial networks, making trade more efficient and independent from external currencies like the USD.
💥 Economic Sovereignty: Babakov emphasized that this initiative will strengthen the financial independence of BRICS nations and shift global trade dynamics.
📊 BRICS Economic Impact:
🌍 Global Influence: BRICS nations collectively contribute to one-third of the world's GDP and 25% of global trade. A unified exchange would significantly impact global markets by facilitating international settlements and reducing reliance on the U.S. dollar.
📉 Decrease in USD Settlements: The use of national currencies in BRICS settlements has already surpassed U.S. dollar payments, indicating a growing trend towards economic independence.
🚀 Benefits of a BRICS Unified Exchange:
🔒 Sovereign Payment Network: The exchange could enable seamless trade between BRICS countries while avoiding intermediary financial systems.
💱 Blockchain & Virtual Currency: Payments could be conducted in digital currencies and blockchain-based systems, improving speed and security of transactions.
🔗 Integration of Trade: By introducing a single virtual currency for cross-border payments, BRICS could potentially transform the global financial landscape.
🗣️ What Leaders Are Saying:
Vladimir Putin disclosed that BRICS is already working on a new independent payment system, which may be incorporated into this proposed exchange, ensuring efficient foreign trade services.
The shift towards a BRICS-wide currency was discussed last year, but the organization opted to focus on national currency usage, which has shown positive results.
🤔 What Do You Think?
Will the BRICS unified exchange challenge the dominance of the U.S. dollar?
Could blockchain-based payments become the future of international trade?
💬 Share your thoughts in the comments below! 👇
📢 Follow us for more updates on the future of global finance and BRICS developments!
🔔 Stay tuned for more groundbreaking news and analyses!
#WeAreAllSatoshi #SECAppealRipple #EIGENonBinance #BTCReboundsAfterFOMC