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Browsing: Decentralized Financial Revolution
- Proponents say this push embodies a broader vision for a politically impartial and more inclusive global financial ecosystem.
- Observers however question whether blockchain currency can survive under the often fractious BRICS bloc.
- Not long ago, the BRICS bloc unveiled plans to introduce the New Development Bank, an idea that remains largely unclear.
The push to redefine the contours of global economics has taken a new turn following a deal by the BRICS bloc—Brazil, Russia, India, China, and South Africa—along with recent members Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), to pioneer a blockchain-backed currency.
BRICS is setting the stage for the launch of a blockchain-powered currency and payment system, an initiative that is poised to take on the hegemony of the US’ King dollar that has held the global financial system by the jugular for decades.
Decentralized Financial Revolution: A Leap Forward
Central to this ambitious endeavor …
