BRICS Adopts Digital Economy
Gesara.news » News » BRICS Adopts Digital EconomyNews Date: January 24, 2024
From January 17 to 19, 2024, the Moscow City Government delegation participated in the Smart Cities India Expo in New Delhi.
Sergey Cheremin, Minister of the Moscow City Government, addressed the exhibition's opening and engaged in various sessions in the business program.
He emphasized the longstanding cooperation between India and Russia and highlighted potential areas for bilateral partnership.
"We are united by the common goal of building the most modern infrastructure, creating a safe and comfortable urban environment. One of the most promising areas of our cooperation is undoubtedly information technology and the digital economy. India and Russia are striving to become leaders in this field, and joining forces can create a synergistic effect," Cheremin stated.
In December of the previous year, China and Russia announced a groundbreaking test for a hack-proof quantum communication link using the Mozi satellite.
The BRICS alliance, having dominated the geopolitical sector in 2023, announced a six-country expansion plan during the Annual Summit.
Now, as attention turns to 2024, both Russia and India, amidst the BRICS initiative, are collaborating on a digital economy and expressing commitment to developing a native BRICS currency, rumored to be blockchain-based.
Also, the BRICS Pay system was launched last year to rival the Western SWIFT payment system and establish BRICS-based alternatives.
Interesting timing, think August, it's going to be absolutely epic!
According to the central bank, Russia will begin testing a digital version of its rouble currency with consumers in August, according to a report published on Tuesday by the Interfax news agency.
Russia has been creating digital currency over the past few years, as have many other nations, in an effort to modernize their financial systems and fend off cryptocurrencies.
August is also the month BRICS plans to introduce a new gold-backed trading currency at the Johannesburg summit.
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