Brazil, Russia, India, China and South Africa, or the BRICS economic bloc, are engaging in discussions to issue cross-national digital money in order to reduce the dependence of their economies on the United States, as reported by Cointelegraph on Nov. 14. What will the new cryptocurrency look like, how does the BRICS group plan to use it and are there any existing projects underway that seek to achieve a similar goal of independence on such a high level?
Five major banks from each BRICS member state signed a Memorandum of Understanding (MoU) on the development of distributed ledger technology (DLT), according to an official press release July 26.
During the 10th International BRICS Summit in Johannesburg, banks from the emerging economies of Brazil, Russia, India, China and South Africa agreed to a joint study of DLT technology like blockchain,
A consortium of state-owned development banks plan to research blockchain technology for international transactions and other products, Russia-based Vnesheconombank said Thursday.
Vnesheconombank, the Brazilian Development Bank, the Export-Import Bank of India, the China Development Bank and the Development Bank of Southern Africa signed an agreement to conduct research on how they can use blockchain research to develop a digital economy,