TechFlow News: On February 3, according to Caixin, as the current BRICS chair nation, the Reserve Bank of India (RBI) has formally proposed establishing a “BRICS Digital Currency Interconnection” system. Leveraging blockchain technology, this initiative aims to build a cross-border settlement network that directly links the payment systems of BRICS countries—bypassing the U.S. dollar. Rather than simply creating an entirely new “BRICS coin,” the proposal focuses on a more pragmatic and operationally viable “interconnection platform” or “settlement bridge,” likely built on a permissioned blockchain (i.e., a consortium chain). Central banks of participating countries would serve as jointly maintained validating nodes, recording cross-border transactions on a distributed ledger—thus balancing national sovereignty with the transparency and efficiency inherent to blockchain.
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