On October 17 and 18, during the BRICS Business Forum at the International Trade Center in Moscow, you can participate in testing the retail technologies of BRICS Pay. To do this, find a card with a one-time QR code, link it in the BRICS Pay app, and receive 500 rubles for purchases at stores labeled with BRICS Pay.
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Recently, false websites and fake studies regarding the BRICS Pay system for retail payments have emerged online. These materials aim to discredit the project, which developing to simplify payments using the national currencies of BRICS countries and other states. An article published on December 3, 2024 in Caixin Global contains numerous inaccuracies and refers to the unreliable website www.jzgjzf.com, which is not an official source of information about BRICS Pay. The official website of the project is brics-pay.com. It is important to note that the BRICS Pay project is currently under active development and is supported by the central banks of the participating countries. We urge all users to rely on official sources of information and to be cautious of fake materials.
On October 17 and 18, during the BRICS Business Forum at the International Trade Center in Moscow, you can participate in testing the retail technologies of BRICS Pay. To do this, find a card with a one-time QR code, link it in the BRICS Pay app, and receive 500 rubles for purchases at stores labeled with BRICS Pay.
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Financial sovereignty empowers a nation to independently manage its financial resources and relationships, both domestically and internationally. It entails the freedom to make financial decisions and take financial actions without external influence or coercion from other countries or international entities
This resource encapsulates the collective expertise of BRICS Business Council members from various nations, including those yet to formally join BRICS+ but committed to contributing to a new global financial and payments architecture within the BRICS+ framework
The Bretton Woods-era global financial system is undergoing a significant transformation. We are witnessing rising global debt, increasing wealth inequality, and the fragmentation of trade and finance systems. Our goal is to ensure equal access to financial technologies and global wealth, providing everyone with the opportunity to reach their full potential. Today, we begin building a new, fair, and decentralized financial system for the future
A nation's financial strength and wealth will no longer be determined by proximity to global emission centers or the size of its derivatives market. Instead, the true measure of a nation's prosperity will lie in its abundance of natural, cultural, industrial, intellectual, and human resources
To realize the BRICS Pay project, technological, financial, legal, and consulting firms are uniting to form the BRICS Pay Consortium, operating under the principles of a decentralized autonomous organization (DAO). The Consortium adheres to the regulations of each country where its members operate. It is a network-based entity without a central headquarters. The Consortium's membership is not publicly disclosed
The architecture of BRICS Pay envisions a more centralized structure within individual countries while maintaining a decentralized approach on an international scale. High-speed deployment, scalability, decentralization, and interoperability are achieved through the creation of distributed networks for transmitting both payment information and liquidity.
The system's core topology is a decentralized star-topology, represented as a connected graph with subgraphs—payment networks within each country. Participants in the settlement system can connect to various vertices (nodes) of transactions. These subsystems (subgraphs) represent existing or prospective payment systems, with local settlement banks located at the centers of these subgraphs. Each country may have multiple such banks. Additionally, within the implemented topology of BRICS Pay, participating banks can establish direct relationships with other foreign banks or another financial institutions.
The architecture of BRICS Pay envisions a more centralized structure within individual countries while maintaining a decentralized approach on an international scale. High-speed deployment, scalability, decentralization, and interoperability are achieved through the creation of distributed networks for transmitting both payment information and liquidity.
The system's core topology is a decentralized star-topology, represented as a connected graph with subgraphs—payment networks within each country. Participants in the settlement system can connect to various vertices (nodes) of transactions. These subsystems (subgraphs) represent existing or prospective payment systems, with local settlement banks located at the centers of these subgraphs. Each country may have multiple such banks. Additionally, within the implemented topology of BRICS Pay, participating banks can establish direct relationships with other foreign banks or another financial institutions.
