Wall Street analysts speculate that the BRICS coalition—Brazil, Russia, India, China, and South Africa—aims to challenge the dominance of the US dollar, potentially with a Ripple/crypto strategy.
Putin and Xi have expressed interest in cryptocurrencies to counter US financial influence.
A multi-country cryptocurrency could potentially upend the petrodollar system, paving the way for a new financial order based on blockchain technology and real assets.
Ripple's technology, particularly the XRP Ledger (XRPL), offers a decentralized platform for rapid, secure transactions.
XRPL’s capabilities could underpin a new asset-backed currency, reducing reliance on central banks and enhancing financial transparency.
RippleNet, Ripple's payment network, facilitates real-time, cross-border transactions, potentially replacing the traditional SWIFT system.
Combined with On-Demand Liquidity (ODL), RippleNet leverages XRP to bypass the need for pre-funded accounts, streamlining international payments.
Is Ripple capable of building the new global Federal Reserve?
Sources: Cointribune, CoinBrain, Cryptoglobe