Topic: BRICS Pay going operational is a major step in dedollarisation - page 4. (Read 1318 times)

From the looks of things, the implementation of BRICS Pay is going to take at least a couple of years (some are saying until 2028) to reach the member states. So I wouldn't hold my breath, but things are progressing and that's the important part if you ask me. Besides, the trades amongst BRICS countries (and a lot of others) is already shifting toward non-USD currencies which includes the local fiat of those countries...

World Order never changes overnight.

Go for it and report back. Beware it's a fraud.

It's a good thing for the BRICS program and the even better thing is that if I am not wrong we can use this card in any BRICS country to pay for anything if the respected payment system is installed I mean either they need the machines or they can use the app and a phone with NFC or manual entry they can pay. I visited their site and they said this pay works like a start system network means one country is connected to all of the others making the system smooth and error-free too at the same time.

I like the idea but how it will dedollarize USD. I use USD in my country but I can't pay with USD directly, so I have to convert, so what I do is convert USD into PKR and then store those PKR into this card (It doesn't work here but let's say if) CMIIW isn't, the demand will be the same or will be higher still.

Basically the US rise to power was due to the second European war aka WW2 and that was because the rest of the world has been destroyed while US mainland remained intact (specifically the infrastructure was intact). In other words US didn't gain power, the rest of the world lost power.

I like the idea but how it will dedollarize USD. I use USD in my country but I can't pay with USD directly, so I have to convert, so what I do is convert USD into PKR and then store those PKR into this card (It doesn't work here but let's say if) CMIIW isn't, the demand will be the same or will be higher still.

This is a major step in Dedollarisation specially since BRICS is expanding very rapidly as lots of countries are now applying to join it.

BRCIS never claimed that they will defeat USD, their goal is to reduce dependence on USD and they call it de-dollarization. They want to create a multipolar world, a more equitable world, instead of a unipolar world dominated and oppressed by one power.

Anything is possible, BRICS can succeed or fail, it all depends on their efforts.


Nothing lasts forever and history has proven that. Before the United States and the US dollar dominated the world, there were many other countries that dominated the world.

I also believe that many people who lived during the period 1720–1815 when France held the world's dominant currency or those who lived during the period 1815–1920 when the British pound was the world's reserve currency thought similarly to those who believe the USD will never be replaced. But history has proven that nothing lasts forever.

It is true that no one knows which currency will replace the USD, which country will replace the US to become the world superpower in the future, but history always repeats itself. No one can stop that, not even the United States.

Honestly, US has always ruled the world with the power of their currency and warheads.

Does it mean brics will beat the USD no why is that?

Which means brics will likely fail.

Not that the USD is special we are watching it fali as I type. The question is what replaces it.

If they have no plan or desire to reduce their dependence on USD, then what is the purpose of them joining BRICS when everyone knows that the purpose of BRICS is to reduce dependence on USD? The countries that have joined and intend to join this bloc are all countries that are fed up with dependence on the US dollar and the authoritarian dominance of the United States.

Yes, USD still dominates the international market, they have dominated the world for over 100 years so reducing dependence or completely eliminating them is not easy. Everything needs to be implemented step by step and it takes time, we cannot expect this process to happen quickly, it may take longer than we think. What we need to care about is that the de-dollarization plan is still being implemented according to the roadmap set out by BRICS.

That's one of AWS' us-east-1 servers - they have one for each availability zone for all of those websites that are being hosted with Lightsail or something. Just one huge box at the edge that can absorb all of the DDoS attacks. 

It's wild that BRICS is using US infrastructure for their website though.

I actually love the creation and expansion of the BRICS nation, not that I am in support of dedollarisation or against it but I personally love a world where there is alternative. If BRICS is offering such alternative, then it is a welcomed development and something to be celebrated. I know it will not be an easy task for them to establish an alternative to the West but it is something if achieve will bring some level of equity and fairness to global trades and give nations the freedom they need to grow and expand at their own pace. I also hate how IMF and world bank dictate the currency exchange rates and by extension, the economies of some countries so the coming of BRICS nation will actually check some of these things.

As BRICS keep on growing each year with influence and strength, and also as new members keep joining this growing bloc the prototype of the physical BRICS currency (cash) is resurfacing again and for those who haven't seen that, it looks like this:

America’s dominance of the global financial system has been a mainstay of the post-war order. It reflects its economic and military heft, but also the fact that dollar-denominated assets such as Treasuries are seen as safe from government confiscation and inflation and are easy to buy and sell. Though central banks have diversified their holdings, including into gold, around 58% of foreign-currency reserves are in dollars (see chart) and the network effects of the dollar put American banks at the centre of the world’s payments systems. Sending money around the globe is a bit like taking a long-haul flight; if two airports are not directly linked, passengers will need to change flights, ideally at a busy hub where lots of other planes connect. In the world of international payments the biggest hub is America, where many of the world’s banks swap foreign currencies from those making payments into dollars and then into the currencies in which the payments are received.

The BRICS Bridge plan was outlined in a report by the Russian finance ministry and central bank in October. Running to 48 pages it critiques Western finance and states that “a new multinational platform for the purposes of cross border settlement needs to be examined in further detail due to its novelty, associated risks, and, potentially, game-changing economics”.  With its focus on digital currencies run by central banks it appears to be at least partially inspired by an experimental payments platform called mBridge, which was developed by the BIS alongside the central banks of China, Hong Kong, Thailand and the United Arab Emirates. Chinese state media say that the new BRICS plan “is likely to draw on the lessons learned” from the mBridge project by the BIS.
That BIS experiment was innocent in design and initiated in 2019, before Russia’s full-scale invasion. It has been stunningly successful, according to several people involved in the project. It could cut transaction times from days to seconds and transaction costs to almost nothing. In June the BIS said mBridge had reached “minimum viable product stage” and Saudi Arabia’s central bank joined as a fifth partner in the scheme. Some 31 other members are observers. By creating a system that could potentially be far more efficient than the current one—and which would weaken the dominance of the dollar—the BIS has unwittingly stepped into a geopolitical minefield.

There is a huge gulf between propaganda and trying to paint the greatness of loser countries, and reality They are all “fighting the developed West and the US”, but only in the heads of their citizens. Because they do not need well-off and educated citizens, they do not benefit from freedom and equality, they need power, total totalitarian power. That is why, for example, India says that BRICS is an economic union for us, not a political one, but we will still adhere to the Western vector of development.

PS The most interesting thing is that in the course of BRICS2024, there are already 2 interesting statements:
- Brazil, India and South Africa are against BRICS expansion. Reason ? And here we go to the next point:
 - In fact the whole BRICS, including China turned out to be against the Russian Fuhrer's idea to make BRICS an “anti-American alliance”

Isn't it funny that the whole software system, working methodology and so on, all of them come from the west knowledge? Thanks to the western knowledge and technology, BRICS countries managed to create a BRICS Pay (software written in English language).
Also, the gift in the given image is equivalent of $5.

I'll be happy if their quality of life improves after the dedollarisation but I still think that any BRICS country should try to stick with west rather than with Russia and China. It's funny how people from BRICS countries migrate to the USA, EU and allies while no one moves in Brazil, Russia or China for better quality of life.

The site is hostet at Amazon aws. Its kind of odd to host a non us Site in the US. Virginia to be exact.
And than shared hosts?
Reverse IP results for 44.219.53.183
==============

There are 64,383 domains hosted on this server.

I bet the site has nothing to do with BRICS and everything going for FIAT. Yours most likely .

Is it even a card? And it's not yet in operation, right?

So, there you go. I'm wondering which part of it uses a decentralized blockchain and independent smart contracts. Again, it seems to me it's another fiat-based wallet which happens to cater cryptocurrencies as well.

I think, if they truly are after independent payment system, they could easily adopt Bitcoin. It's truly free from any external influence and it has a native currency whose value no country however powerful can inflate or deflate.

In the newest BRICS meeting currently taking place in Russia, the new BRICS payment system called BRICS Pay was revelated and became operational. The gift card seen in the image above contains 500 rubles and it can be used to purchase stuff from any shop that supports the BRICS Pay system like the coffee shop below.


This is a major step in Dedollarisation specially since BRICS is expanding very rapidly as lots of countries are now applying to join it.