Kommunitas

<p>Alexander Babakov, the Deputy Chairman of State Duma, stated that ideas for creating a new form of currency will be presented at the upcoming #BRICS economic bloc summit in South Africa. The BRICS bloc comprises Brazil, Russia, India, China, and South Africa, which holds the BRICS presidency for this year.  Currently, there is a possibility of a single BRICS currency emerging, which might be backed by commodities such as gold, rare-earth elements, or soil. Babakov further added that &#34;The first step is the transition to settlements in national currencies. The next step is to enable the circulation of a fundamentally new currency, whether digital or otherwise, in the near future.&#34;  </p><p>#KOMnews #kommunitas #newcurrency #southafrica #nationalcurrency #financeupdate #FIAT</p>

BRICS Are Developing a New Currency

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