Welcoem to posts!!
in the future - u will be able to do some more stuff here,,,!! like pat catgirl- i mean um yeah... for now u can only see others's posts :c
Map of Africa using ethnically drawn borders
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BRICS is reportedly planning to launch a banknote that will replace the dollar. Reports say that the note could be called 'the unit'. It's not yet officially launched, but SERIOUS discussions are currently underway. BRICS declaration calls for the use of LOCAL CURRENCY to boost trade. This BRICS Summit is HISTORIC!
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What is BRICS Pay, and how does it work? #BRICSPay
BRICS Pay is a revolutionary payment system developed by the BRICS nations (Brazil, Russia, India, China, and South Africa) as a means of establishing a unified financial platform for cross-border payments. This initiative aims to reduce dependency on traditional payment systems like SWIFT and Visa, which are dominated by Western financial institutions.
How BRICS Pay Works:
Digital Wallet Integration: BRICS Pay operates similarly to existing digital wallets (like Apple Pay or Google Pay), allowing users from BRICS countries to make transactions via mobile apps.
Currency Exchange: One of the main goals is to facilitate cross-border payments in local currencies, bypassing the need to convert to US dollars or euros, thus reducing transaction costs and making it easier for member countries to trade with each other.
Global Ambitions: While primarily intended for BRICS nations, there are discussions about extending this payment system to other nations and regions, especially as BRICS countries seek to establish alternatives to Western financial systems.
Why It's Important:
Reduced Dollar Dependency: This system supports the growing movement toward de-dollarization, reducing reliance on the U.S. dollar in global trade and finance.
Enhanced Financial Sovereignty: By establishing their own payment network, BRICS countries gain greater control over their financial transactions and mitigate risks related to sanctions.
Boosting Economic Cooperation: BRICS Pay is expected to streamline trade between member nations, providing a smoother flow of goods, services, and investments.
The development of BRICS Pay aligns with larger efforts by the bloc to challenge the dominance of Western financial systems and create a multipolar world economy. Keep an eye out for further announcements as the system evolves and potentially expands beyond BRICS.
#BRICSPay #DeDollarization #GlobalFinance #BRICS #DigitalPayments #FintechRevolution #CrossBorderPayments #BRICSEconomy
Let us know your thoughts on this innovative payment system! Do you think it could challenge the dominance of traditional Western financial systems?
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What will happen if the US dollar loses its dollar dominance?
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What will have the biggest impact on the U.S. economy by the end of 2024?
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Welcome to Mwaki Insights! 🔥 Your top source for global analysis, sharp commentary, and deep dives into the world of geopolitics, economics, technology, and international relations. 🌍
We break down complex global issues, from the rise of BRICS to the future of international trade, covering key topics such as EU sanctions, de-dollarization, and the Russia-Ukraine conflict. Our videos deliver fact-driven insights to help you stay informed and ahead of global shifts.
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