Russian official: BRICS cooperation on cross-border payment systems will be based on digital technologies and advanced tools such as blockchain
Ushakov, the foreign policy adviser to the Russian president, stated that the cooperation among BRICS countries in the cross-border payment system will be based on advanced tools such as digital technology and blockchain. This will effectively solve the problems currently existing in the cross-border payment system. The establishment of a common cross-border payment system among BRICS countries will be a steady and gradual process, and its prospects need to be further observed. Guo Hanbing, a postdoctoral researcher at the Financial Research Institute of the Chinese Academy of Social Sciences, pointed out that the Hong Kong dollar real-time payment settlement system is efficient, stable, and meets international standards, which can serve as an important entry point for Hong Kong to participate in the construction of the new payment system. By combining blockchain technology to create a distributed ledger payment solution, payment efficiency can be improved. In addition, by cooperating to develop an AI-driven payment risk prediction model, payment risks can be accurately identified and prevented, making the new payment system more stable and reliable, while Hong Kong consolidates its leading position in financial technology during this process.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pepe’s market cap briefly tops $10 billion on back of 77% price surge
The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.
ETH killers are still no closer to doing the deed
Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times
Bitcoin at $100k very possible before EOY, analysts say
The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks
FBI raids Polymarket founder's home