News
A potential “BRICS currency” will not be a rival to the US dollar, but rather a tool for mutual investment within the group, Kremlin spokesman Dmitry Peskov said.
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BRICS News
BRICS is the association of the most-developed emerging national economies, including Brazil, Russia, India, China and South Africa. BRICS countries have a combined population of 3.1 billion people — which is around 40 percent of the world’s population — and $40 trillion of combined nominal GDP — making up more than 20 percent of world’s gross domestic product. China is the largeest member of BRICS in terms of population, nominal GDP and exports value, making it the unofficial leader of the association. The first BRICS summit was held in Russia on June 16, 2009 and later gathered annually, alternating among all of the BRICS countries. The latest BRICS summit in 2017 was held in China and hosted by Xi Jinping, the upcoming BRICS Summit in 2018 is planned for July 25-27 and will be hosted by Cyril Ramaphosa in South Africa. BRICS summits are influential macroeconomic gatherings and, arguably, the most important event for the internation politics of developing countries.
- Explained
BRICS Pay seeks to lessen reliance on the US dollar, reducing sanctions risks and fostering a sovereign financial system for transactions.
- Interview
Russia’s plan to build out Bitcoin mining in other countries could inspire other nations to do the same domestically.
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The latest episode of The Market Report analyses the recent Bitcoin price correction to $26,000 and what it reveals about the current market structure.
9349 - Interview
A common currency would be challenging for Brazil, Russia, India, China and South Africa to initiate and maintain, but it could have an impact on Bitcoin, investment strategist Lyn Alden says.
44803 - Overview
Explore how the emerging economies of Brazil, Russia, India, China and South Africa cooperate in areas such as economics, development and global governance.
21479 - News
Russia’s central bank plans to create new institutions to mine crypto assets and settle international payments.
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A top Russian official has reportedly claimed that the countries of the BRICS alliance — Brazil, Russia, India, China and South Africa — are working on creating their own currency.
71593 - Expert Take
Russia’s relationship with blockchain and cryptocurrency wasn’t clear, but the country is making steps toward digital economic development.
6571 - Expert Take
How can emerging technologies help one of the world’s most populous countries and one of the largest energy consumers toward sustainable and renewable energy development?
3021 - Expert Take
Russia is taking the lead in issuing a multinational stablecoin backed by commodities with the Eurasian Economic Union, or EAEU, and BRICS countries.
5950 - News
The creation of a new cryptocurrency for BRICS member nations was discussed at the 11th annual BRICS Summit 2019.
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The Indian government has approved an MOU on the joint research of blockchain technology application under the BRICS Interbank Cooperation Mechanism.
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Major banks from BRICS member states; Brazil, Russia, India, China, and South Africa, will study blockchain tech implementation.
22228 Two Russian power stations will be transformed into cryptocurrency mining operations, according to local media reports.
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