BRICS Eyes Digital Payment System to Bypass Dollar

The BRICS countries are working on a new digital payment system that would allow them to trade using their own digital currencies instead of the US dollar.

This system would connect digital currencies like India's digital rupee, China's digital yuan, and Russia's digital ruble.

Each country would keep control of its own currency, but they would be able to trade directly with each other without using the dollar or the SWIFT network.

This could make trade cheaper and more secure.

However, it will take time to set up because the digital currencies are still being tested and there are different rules in each country.

The goal is to have a backup system in case the dollar system becomes unstable.