The BRICS countries explore the use of encrypted currencies as a substitute for national currencies


nnnAccording to Russian news media, Kirill Dmitriev, head of the Russian Direct Investment Fund, said the encrypted currency became a hot topic for the BRICS National Finance Committee. According to its disclosure, BRIC countries may create encrypted money as a substitute for other financial instruments. At present, Russia is also actively preparing for its own centralized currency, India, South Africa and other governments are also aware of their citizens growing interest in encrypted currency interest.n
nnTranslation: Clovern
nBRIC member states may create a function of the encrypted currency “as a substitute for other payment instruments”.n
nAccording to Kirill Dmitriev, head of the Russian Direct Investment Fund, investment in a group of countries consisting of Russia, India, South Africa, China and Brazil will quadruple over the next three years.n
n”The other topic that the Finance Committee is discussing is to encrypt the currency,” RIA Novosti, the Russian news media, quoted him as saying.n
nn”We may even discuss the creation of BRICS encryption money as a substitute for other financial instruments, and it is also an issue that the BRICS National Business Council is discussing.”n
nnAt present, the national currency constitutes a cross-group settlement of the trading medium, and the changes in this currency in response to the growing US dollar advantage, has become one of the hot topics.n
nRussia itself is busy preparing its own centrally encrypted currency, allegedly the currency name “BitRuble” or “CryptoRuble”.n
nDmitriev continues to say:n
nn”[…] Encrypting money as a possible clearing mechanism is also the point of discussion.”n
n”For specific billing mechanisms, it may be necessary to encrypt the currency, and the encrypted currency may be a good alternative to the dollar and other billing methods.”n
nnIn particular, governments in Russia, India and South Africa have also seen an increasing interest in their citizens’ interest in encrypted money, while Russia seems to have responded to the threat of prohibiting unauthorized citizens from engaging in encrypted money.n
nAnd recently, South Africa has also been recorded as the most per capita country in Google search for “Bitcoin” countries.n

Leave a Reply

Your email address will not be published. Required fields are marked *