There is a lot of discussion about the 'BRICS Bridge' and 'BRICS Currency' at the BRICS conference, know what it means?

There is a lot of discussion about the new financial system at the BRICS conference being held in Russia this time. It is being said that Russia and many countries want to get rid of the dominance of the dollar. For this, BRICS currency should be launched as an alternative system.

BRICS Bridge is a multilateral digital payment system being developed to make economic transactions between BRICS countries easy and secure. Its main objective is to facilitate transactions in digital and national currencies, so as to promote trade and financial cooperation between BRICS countries without external political pressure and restrictions.

10 key points of BRICS Bridge

1- Independent Digital Platform

The BRICS Bridge will be an independent payment and settlement system that will help the BRICS countries protect their financial transactions from external interference and sanctions.

2- Transactions in national currencies

Through this platform, trade between BRICS countries will be possible in national currencies and digital currencies, which will reduce dependence on the dollar.

3- Use of digital currency

The BRICS Bridge will allow the use of digital currencies of member countries, such as Russia's digital ruble, making transactions faster and more secure.

4- Improvement of international payments

This system will make cross-border payments faster and cheaper, saving time and money for businesses.

5- Protection from political sanctions

The aim of the BRICS Bridge is to process payments independently of external political pressure and restrictions, especially in the context of sanctions against Russia.

6- Swift option

This system could be an alternative to international financial networks like SWIFT, which is currently under the control of Western countries.

7- Financial integration

This platform will be helpful in promoting financial integration among the BRICS countries, thereby further strengthening their economic relations.

8- Economic strength of BRICS countries:

The development of this platform reflects the economic strength and independence of the BRICS member countries, which has the potential to change the global economic balance.

9-Discussion in the BRICS conference

The BRICS Bridge issue will be the main focus of the Kazan BRICS summit, where it is expected to be finalized.

10- Potential global impact

If the BRICS Bridge succeeds, it could become a model for other developing countries to consider adopting it to escape Western financial pressures.