this post was submitted on 19 Oct 2024
47 points (100.0% liked)

World News

2307 readers
112 users here now

founded 4 years ago
MODERATORS
muad_dibber@lemmygrad.ml
sovietsnake@lemmygrad.ml
ksynwa@lemmygrad.ml
47
A new digital payments system, BRICS Pay, debuted for live testing at this week’s BRICS Business Forum at the International Trade Center in Moscow. (businesstech.co.za)
submitted 4 weeks ago by yogthos@lemmygrad.ml to c/worldnews@lemmygrad.ml
15 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] Comprehensive49@lemmygrad.ml 6 points 3 weeks ago* (last edited 3 weeks ago)
  1. Please see my post above on why blockchain is useful in this one specific instance.
  2. Rather than being reluctant, China is trialing this already via Project mBridge with central banks of Thailand, the United Arab Emirates, and Saudi Arabia. Another term for a multi-nation-backed blockchain system is a multiple central bank digital currency (CBDC) system, so that's basically what it is.