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What is Quantum Internet

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News Date: August 31, 2021

Traditional computer data is coded in either zeros or ones. Quantum information is superimposed in both zeros and ones simultaneously.
The quantum internet is a network that will let quantum devices exchange some information within an environment that harnesses the odd laws of quantum mechanics.
In theory, this would lend the quantum internet unprecedented capabilities that are impossible to carry out with current web applications.
Sources: trevorwinchell.com

Challenging The G7

BRICS plus nations in the Global South could represent a sea change in the West's global institutions.
The West has traditionally dominated global groupings of leaders, most notably the G8, which included Russia until 2014 and is now the G7.
That is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, with the European Union is a 'non-enumerated member'.
Russia is ready to develop a global reserve currency together with China and other members of the BRICS group of nations.
It could be based on a basket of currencies from the organization's members.
One possibility is that the BRICS basket currency could attract the reserves not just of the group's members, but also countries already in their range of influence.
These include nations in South Asia and the Middle East.
Sources: silkroadbriefing.com

The World toward a multi-currency system

Nations like Russia and China are now leading the charge from a one-currency world to a multi-currency world of import payments.
Russia, for example, can take its energy profits and Rubles to purchase the currencies of friendly countries like China, India, and Turkey to rebuild its reserves outside of the USD.
The old world is slowly but surely turning irreversibly away from a USD-dominated currency system toward a multi-currency and multi-FX pricing model.
Source: goldswitzerland.com

Digital Currency Backed by Gold Bill in Texas

Texas Lawmakers Introduce Bills to Create Digital Currency Backed by Gold.
The comptroller shall establish a digital currency that is backed by gold so that each unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust as provided by this chapter.
Source: capitol.texas.gov

Iran and Egypt signed a memorandum to join SCO

The Shanghai Cooperation Organization (SCO) is an intergovernmental organization founded in Shanghai on 15 June 2001.
After 21 years, the organization has become not only a strong pillar of global peace and development but also a major force for international equity and justice.
The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia) and six 'Dialogue Partners' (Azerbaijan, Armenia, Cambodia, Nepal, Sri Lanka and Turkiye).
Egypt and the Shanghai Cooperation Organization (SCO) on Wednesday signed a memorandum of understanding on Egypt's accession to the organization as a dialogue partner ahead of the summit of heads of state and government of the organization's member states scheduled to be held in Samarkand, Uzbekistan, on 16 September.
Also, Iran has signed a Memorandum of Obligations to become a permanent member of the SCO, the Iranian foreign minister said.
Sources: dailynewsegypt , azertag

Asian Clearing Union to adopt SWIFT alternative

Within the coming weeks, ACU member states plan to introduce the Iranian-developed system.
During a recent summit in Iran, the members of the Asian Clearing Union (ACU) decided to compete with the SWIFT global payment network by launching a new cross-border financial messaging system in June.
ACU members include the central banks of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka, Myanmar, and Iran.
According to reports, the new, unnamed method for banking communication among ACU members was designed by the Central Bank of Iran (CBI).
Along with the top representatives from the ACU member states, the conference also included the governor of the Russian central bank, representatives from Afghanistan, and Belarus.
Last week, applications for membership in the ACU were submitted by Belarus and Mauritius.
Mohammad Reza Farzin, the governor of the CBI, disclosed that the bloc would look to expand its membership and vary the payment methods it accepts in order to support a more comprehensive de-dollarization drive.

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