The new BRICS currency


The decision to peg the new BRICS currency to gold was influenced by multiple factors, including economic goals, stability considerations, and consensus among the participating countries.

Its success will depend on recognition and competitiveness in the global financial system. It will require building trust and convincing other countries to accept and use the currency for international transactions. The ability to compete with established reserve currencies and financial systems such as the US dollar and the euro will be crucial.

What makes currency pegged to gold interesting?

Firstly, it can provide stability and reliability to the new means of payment. Backing it with gold will increase investor confidence and reduce the risk of inflation or currency devaluation.

Secondly, pegging to gold allows for avoiding dependence on a single reserve currency, such as the US dollar. By reducing dependence on a specific currency, BRICS countries can potentially mitigate risks associated with economic and geopolitical fluctuations.

Additionally, it provides some protection against currency exchange rate fluctuations, which can be particularly beneficial for countries with unstable national currencies or those exposed to global economic uncertainty.

An “improved version” of such payment instruments is undoubtedly a gold-backed cryptocurrency, allowing for all the advantages of blockchain technology.

The GDIT token issued by IWI GS is one of the most successful examples of such assets.

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