HomeNewsBRICS Readies for New Members: Bitcoin Fuels De-Dollarisation Drive

BRICS Readies for New Members: Bitcoin Fuels De-Dollarisation Drive

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  • An upcoming BRICS summit is likely to announce a considerable expansion, signaling a major transformation in the global order.
  • Over 22 nations have officially lodged membership requests to join the BRICS alliance, with more than 20 further nations expressing interest.

A ground-breaking shift is on the horizon as the BRICS alliance—Brazil, Russia, India, China, and South Africa—prepares for a significant summit. The announcement of an expansion to the bloc, as suggested by South African authorities, is expected to have profound implications on global geopolitical dynamics.

South Africa Initiates Transformation

President Cyril Ramaphosa of South Africa, amidst a meeting at the South Africa Investment Conference, suggested a critical development. Ambassador Anil Sooklal confirmed the likelihood of a “planned announcement on the expansion of BRICS” during the summit.

This expected announcement signals a potential “tectonic shift” in the global order, according to Sooklal. The BRICS alliance has received formal membership requests from 22 countries, and over 20 other nations have also expressed interest, signaling the high stakes and potential impact of the upcoming summit.

BRICS: The Catalyst for Change

BRICS, currently experiencing a phase of considerable growth, has positioned itself as a formidable global entity. The upcoming summit promises to be a pivotal point, capable of defining the trajectory of this economic alliance in both the short and long term.

Sooklal contends that the BRICS alliance is no less than a “powerful global force,” actively orchestrating substantial change. He underscores that this transformation isn’t happening arbitrarily but is facilitated by BRICS. The upcoming summit, he suggests, will initiate a tectonic shift in the global geopolitical architecture.

The Largest Gathering: Charting the Course

The summit has sent out invitations to more than 70 nations for participation, marking it as one of the most comprehensive assemblies of countries from the global south in recent memory. These conversations will be centered around the prevailing global challenges.

While reports suggest internal disagreements within the bloc over the pace of expansion—Brazil and India advocating caution, and China pushing for continued growth—the upcoming summit is expected to shed light on the criteria for future memberships. With the world watching, the BRICS nations are set to redefine the global geopolitical narrative.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628