Brazil Promotes Blockchain for Trade Modernisation in BRICS Leadership
Brazil, chairing BRICS in 2025, is promoting blockchain for modernizing trade finance and improving efficiency among member states. This initiative aligns with Brazil’s agenda on trade facilitation, which includes potential instant payment systems. Support from China reflects a broader commitment to multilateral cooperation.
Brazil is taking the lead as the 2025 chair of BRICS by focusing on the modernization of international financial transactions to improve trade efficiency among emerging economies. The country is advocating for the incorporation of blockchain technology to streamline contracts and payment processes, according to reports from Brasil 247, a partner of TV BRICS. This initiative is part of Brazil’s broader agenda aimed at facilitating trade and investment, which is one of six key areas prioritized under its BRICS leadership.
The initiative includes the potential integration of instant payment systems to further enhance transactional efficiency among BRICS member states. In his address at the 2024 BRICS Summit in Kazan, Brazilian President Luiz Inacio Lula da Silva emphasized the necessity of reflecting economic multipolarity in the global financial system.
Further collaboration is anticipated among member countries. Chinese officials expressed their support for Brazil’s chairmanship of BRICS, emphasizing a commitment to multilateralism and advocating for the interests of countries in the Global South. There are also discussions regarding the integrity and effective functioning of the global economic system at upcoming G20 foreign ministers meetings, where priorities aim to stimulate economic growth and ensure fair access to finance for Global South nations.
Brazil’s leadership in BRICS during 2025 focuses on enhancing trade efficiency through blockchain technology and the potential integration of instant payment systems. This initiative is part of a broader agenda aimed at facilitating trade and investment within emerging economies. The support from nations like China highlights the importance of cooperation and multilateralism in achieving these objectives, particularly in the context of the Global South.
Original Source: tvbrics.com
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