Ah, Brazil! The land of samba, sunshine, and now, apparently, blockchain. It seems the BRICS nation has decided that a joint currency is so last season, and instead, they’re putting all their chips on the digital table. Who needs a currency when you can have a fancy ledger, right? 🕺💃
According to the ever-reliable sources at Valor Econômico (which sounds suspiciously like a wizard’s spell), Brazil is all set to make blockchain the star of the show during its presidency of BRICS. Yes, that’s right! The same BRICS that includes the likes of Russia, India, and China, who are probably wondering if they should start investing in digital magic beans. 🌱✨
Now, before you start imagining a world where the dollar is replaced by a shiny new BRICS coin, hold your horses! The plan is not to create a currency that could rival the dollar, which, let’s face it, is like trying to outshine the sun with a flashlight. Apparently, U.S. President Donald Trump has been waving his tariff wand, threatening a 100% tariff on anyone daring to challenge the almighty greenback. Talk about a party pooper! 🎉🚫
Instead, Brazil is focusing on making international transactions as smooth as a well-oiled carnival float. One of the ideas floating around (pun intended) is to integrate blockchain into Brazil’s financial system. The central bank has been tinkering with something called Drex, which sounds like a futuristic robot but is actually a project aimed at creating a tokenized infrastructure for financial transactions. However, it seems they’re having a bit of a pickle trying to balance privacy with regulatory oversight. Who knew being a financial wizard could be so complicated? 🧙♂️💼
Stablecoins Already in Use
And if that wasn’t enough, there’s talk of a network akin to Brazil’s Pix system. But wait! This could raise eyebrows about governance and the sovereignty of the participating countries. Because nothing says “trust” like a group of nations trying to figure out who gets to control the blockchain. 🤷♂️🌍
In a plot twist worthy of a soap opera, Russian deputy minister Sergey Ryabkov has suggested that stablecoins might just be the answer to international settlements among BRICS members. Apparently, they’ve even set up a special communication channel between central banks. But, spoiler alert: no official decision has been made yet. It’s like waiting for the next season of your favorite show, only to find out it’s been canceled! 📺❌
And just when you thought it couldn’t get any more exciting, crypto.news reported that Russian oil firms are already using various cryptocurrencies and stablecoins to convert Chinese yuan and Indian rupees into roubles for trade. Because why not throw a little crypto chaos into the mix? It’s like a financial buffet where everyone is trying to grab the last piece of pie! 🥧💸
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2025-03-14 14:18