In a bold move to reshape global financial dynamics, the BRICS nations (Brazil, Russia, India, China, South Africa) have announced plans to launch a blockchain-based payment system. Aimed at reducing dependency on the US dollar, this initiative represents a significant step towards greater financial independence for emerging economies. By leveraging blockchain technology, the system promises cost-effective, politics-free transactions accessible to everyone, from governments to everyday citizens. This development not only signifies a leap in blockchain application by sovereign states but also challenges the existing US-led financial order, heralding a new era of economic collaboration and strengthening among BRICS countries.
