Brazil plans to leverage cryptocurrencies and blockchain to enhance international trade and logistics as it assumes the BRICS presidency in 2025.
Cryptocurrency in BRICS Trade
Brazil intends to establish cryptocurrency payment systems to optimize trade operations among BRICS nations, which include Saudi Arabia, Egypt, the UAE, Ethiopia, Iran, and Indonesia. Key to this initiative are stablecoins and the Drex pilot project developed by Brazil's central bank. The main challenge is to balance regulatory oversight with decentralization in order to reduce reliance on traditional financial intermediaries.
Expanding Blockchain Use in Brazil
Beyond trade, Brazil plans to integrate blockchain and AI into the postal service's logistics operations. The Brazilian postal service has launched an initiative to enhance parcel tracing and logistics through technology. This opens up new business opportunities for tech companies and positions the country as a leader in blockchain adoption in the public sector.
BRICS Pushing for Blockchain Independence
The drive for blockchain adoption by BRICS is motivated by the need to diversify payment networks and reduce dependency on Western systems. As the BRICS chair, Brazil aims to expand digital financial infrastructure by integrating blockchain and cryptocurrencies into the global economy.
Brazil's plans to use cryptocurrencies and blockchain for BRICS and public sector projects highlight a global trend towards decentralized technologies for increased efficiency and security.
