Role of BRICS in the World Economy Development

DOI: 10.33917/es-2.194.2024.16-23

The authors propose a vector for developing BRICS as an operator of an intercountry digital platform complex (IDPC), within the framework of which international economic transactions are accelerated, simplified and cheapened. Simplification and acceleration occur due to the fact that the documents, required for transaction, are prepared by ICPC algorithms in accordance with the current legislation of the countries and international standards. Cost reduction is achieved by reducing transaction costs, international multilateral clearing, optimizing logistics costs, introducing an internal electronic platform currency for mutual settlements, etc. In this case BRICS, receiving a commission of about 0.5% from each transaction, becomes independent of the budgets of participating countries and a self-sustaining international organization with significant influence in the field of international economic cooperation, including performing the international arbitration functions.

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