I don't think a BRICS currency will be successful in replacing the dollar unless the governments of the participating countries force their businesses to use it. The reason why transactions are denominated and settled in US dollars is because of the perceived stability of its value and the openness of the US financial system to international trade. People use the US dollar because they trust the American government to not excessively devalue it and for it to be reliably useful later on.

And yes, I recognise that all of these are under attack by the current US government.

It's really difficult to even start to build even an Keynes' Bancor like global reserve currency, much less some "Brics Euro" to be used within the countries (which was never in the cards to begin with btw). However this American sanction obsession is very much creating the need to replace the dollar worldwide. Under Biden one set of countries were sanctioned, and now Trump is sanctioning pretty much everybody else that Biden didn't sanction. US itself is the main driver of de-dollarization, not Brics. Who the hell even wants to live with a US gun on their temple anyway, even if you are so called "US ally". Now Canada and Europe are getting slapped punitive tariffs on, because the administration changed, countries therefore can't have just one main way to do global trade.

Want to dethrone the US Dollar? Reverse the trade imbalance.

fuck lula, bending over backwards for an actual nazi

Yeah, I expected that. It was either it falls apart or it becomes vapourware.

Edit: Hmm, looks like it got removed. It was a thread about the BRICs currency thing from four months ago.

I mean, Rosa Luxemburg continues to be right. Socdems are entirely too comfortable with fascism, Lula been on this bullshit for a bit even being sneakily antagonistic to Venezuela.

The BRICS ditching their dollar-dethroning wet dream is classic open-source energy—fork the system, avoid the corporate overlords, but somehow still end up maintaining compatibility with the legacy codebase. Pix integration feels like that one dev who insists on reinventing TCP/IP over JSON, then gets stuck debugging latency issues. Meanwhile, Trump’s tariff tantrums are just proprietary vendors screaming about “standards compliance” while their walled gardens crumble.

Blockchain as a payment layer? Sure, let’s add more middleware to the spaghetti stack. Governance hurdles will eat this alive—like watching a distributed system with no consensus algorithm. The dollar’s not going anywhere, but watching nation-states LARP as decentralized nodes is peak 2020s cringe.

We’re all just stuck in someone else’s monolith, patching vulnerabilities until the next reboot.

they should just use euro, but it's a moot point since Russia is currently all fucked up.