{"id":20304,"date":"2023-04-27T09:47:48","date_gmt":"2023-04-27T09:47:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/brics-currencies-to-have-no-alternative-former-russian-president-medvedev-says-finance-bitcoin-news\/"},"modified":"2023-04-27T09:47:48","modified_gmt":"2023-04-27T09:47:48","slug":"brics-currencies-to-have-no-alternative-former-russian-president-medvedev-says-finance-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/brics-currencies-to-have-no-alternative-former-russian-president-medvedev-says-finance-bitcoin-news\/","title":{"rendered":"BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says \u2013 Finance Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n\n<\/div>\n

Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said.<\/strong><\/p>\n

Ruble, Yuan, Other BRICS Currencies to Take Over After Euro Collapse, Dmitry Medvedev Predicts<\/h2>\n

Russia\u2019s former head of state, Dmitry Medvedev, does not rule out the collapse of the common European currency and a return to national fiats on the Old Continent. \u201cIt is absolutely certain that financial shocks in Europe will not keep you waiting,\u201d he was quoted as saying by the RIA Novosti news agency.<\/p>\n

The euro, already not too resistant to external influences, has started losing its role as a universal means of payment, Medvedev pointed out. Therefore, it is likely that Europe will return back to \u201cthe system of financial patchwork with national currencies. Well, then goodbye euro, hello mark, lira, and French franc,\u201d he added.<\/p>\n

Dmitry Medvedev, who serves as the Deputy Chairman of the Security Council of the Russian Federation since 2020, was speaking during the \u201cKnowledge. First\u201d educational marathon which he was invited to attend. He further elaborated:<\/p>\n

\n

In this case, the ruble, yuan, Indian rupee, other currencies of the BRICS countries will have no alternative in the future.<\/p>\n<\/blockquote>\n

Medvedev emphasized that the group of leading developing economies needs to think about the digital formats of their national currencies as well as about a digital currency issued by BRICS itself. \u201cThe leaders of our organization are now talking about it,\u201d he noted.<\/p>\n

The BRICS<\/a> bloc, which currently consists of Brazil, Russia, India, China, and South Africa, will hold a summit in Cape Town, South Africa in early June to discuss proposals for enlargement<\/a>, among other major topics.<\/p>\n

\"BRICS
Dmitry Medvedev<\/figcaption><\/figure>\n

The latest statements of Medvedev, who is the leader of the ruling United Russia party, come after in late December he predicted<\/a> that the U.S. dollar will be losing its status of global reserve currency in 2023, amid the increasing spread of digital currencies.<\/p>\n

Russia has been working on a digital ruble<\/a> and a new payment system<\/a> that officials claim will not restrict digital currency payments. Pressed by Western sanctions over its invasion of Ukraine, Moscow also intends to legalize crypto payments<\/a> in international settlements as part of its de-dollarization<\/a> attempts.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Brazil<\/a>, brics<\/a>, China<\/a>, currencies<\/a>, Digital Currencies<\/a>, Digital Currency<\/a>, dmitry medvedev<\/a>, Dollar<\/a>, Euro<\/a>, Fiat<\/a>, former president<\/a>, India<\/a>, Medvedev<\/a>, President<\/a>, ruble<\/a>, rupee<\/a>, Russia<\/a>, russian<\/a>, South Africa<\/a>, Yuan<\/a><\/div>\n<\/div>\n

Do you expect BRICS currencies to challenge the leading roles of the U.S. dollar and the euro in the near future? Share your thoughts on the subject in the comments section below. <\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Anton Veselov \/ Shutterstock.com<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n