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0 sats \ 0 replies \ @Solomonsatoshi 9 Nov \ parent \ on: The BRICS Are a Scam and Will Never Beat the Dollar econ
It looks like it will be a system that facilitates trade payments using digital representations of the various nations currencies.
Based on the Chinese CBDC as the mBridge program is.
If a nation inflates the supply of its currency then it loses value compared to the other currencies- just as happens if you are operating within SWIFT.
China will control the protocol as it developed the e-Yuan protocol upon which its being built.
This is the tertiary layer of the Belt and Road model of empire China is building.