Russian Business Leaders Talk Up Prospects of a BRICS Digital Fiat Russian businessmen want to use digital assets and a single digital currency to trade with BRICS members and other friendly nations.
According to reports, the BRICS countries may launch their own digital fiat within the next five to ten years.
Russian businessmen have discussed this technology for quite some time.
Yulia Prikhodina, deputy chair of the Russian Chamber of Commerce and Industry’s Council on Financial, Industrial, and Investment Policy, says that her group has discussed the use of DFAs in the international payments space.
Using DFAs or a common digital currency like the USD would help ensure that goods do not get delayed as a result of Western-led sanctions.