Sort off already exists, but nationally, in Brazil there is "pix " an electronic payment system, recently even saw some news of european countries trying to copy how it works (adapt it), something along those lines.

[–] Tenderizer78@lemmy.ml 2 points 1 day ago (2 children)

If anything the Euro would need to do it. Europe, Canada, Japan, they won't trust a BRICS currency. Within BRICS it might work but it wouldn't replace the dollar in that case.

[–] emergencyfood@sh.itjust.works 1 points 3 hours ago

Euro won't work. For other countries to use the Euro, they need to have Euro stocks. For this, the EU needs to (1) run a deficit, and (2) manufacture something of value to the rest of the world. But the EU won't run a deficit, and its manufacturing sector is collapsing.

[–] ShinkanTrain@lemmy.ml 5 points 1 day ago (1 children)

The point would be to not be tied to a single currency

[–] Tenderizer78@lemmy.ml 0 points 20 hours ago

The BRICS currency would be a single currency, administers by an assortment of countries. In essence the BRICS currency would be just like the Euro but with an international pariah (Russia) and a country with a history of heavy-handed policy towards business (China) being major players.

[–] Sam_Bass@lemmy.ml -1 points 1 day ago

Thats not convincing me that he gave up his Russian asset status