The BRICS block investigates the use of digital assets to increase its financial independence. According to the Russian Minister of Finance, Anton Siluanov, digital technologies will play a key role in the future payment system of the affiliated countries. The goal: less dependence on Western influences and traditional networks such as Swift.
New payment structure with digital technology
According to Tass news agency, Siluanov has indicated that Brics is working on a modern payment system. This system must enable cross -border transactions, using national currencies and digital technologies such as digital financial assets.
During the BRICS summit in Kazan, Siluanov also spoke about this. He emphasized that digital assets and new forms of international payments are central to the design. Russia has been working since last year on a law that allows the use of digital assets for foreign trade. Within Russia, the use remains prohibited for the time being.
Digital assets as an alternative to Fiatraluta
Within Brics, the term ‘digital assets’ not only refers to crypto currency such as Bitcoin, but also to geken -based versions of precious metals, such as gold. According to Anatoly Aksakov, chairman of the Doem Comice for the Financial Market, these digital assets can be a serious alternative to traditional currency in international transactions.
The interest in this technology is growing at a time when more and more countries are criticizing the Western financial system. BRICS sees digital assets as a way to make mutual trade more efficient and less dependent on the West.
Brics reinforces geopolitical course
With these plans, BRICS makes it clear that it wants to grow into an independent economic and geopolitical superpower. It is still unclear when the new digital infrastructure comes into effect. However, one thing is certain: Brics is fully committed to digital financial sovereignty.
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