(VOVWORLD) - Countries of the BRICS economic bloc are currently working on the launch of a financial system that will be independent of the dominance of third parties, according to Russian Ambassador to China Igor Morgulov.
  • suoko
    1·
    5 months ago

    I wonder what kind of discussions take place when they implement these kind protocols (thinking of swift):

    • we want to avoid dirty money banks? No, that’s ok
    • we decide who can enter this network based on the fee they’ll pay
    • we have to crush any competitors in the world, we’ll deal all transactions, it’s not that complicated, little effort for big control
    • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
      2·
      5 months ago

      I think the interesting part with the Bancor approach is that it would avoid a lot of these problems since it’s strictly a settlement currency.