I just found out that the BRICS have just presented a pretty interesting prototype: a new digital currency called Unit. The idea is to facilitate trade among these countries, and honestly, it’s a move that makes geopolitical sense.

What catches my attention is how this BRICS currency is structured. It’s backed by a basket of reserves that combines 40% physical gold with 60% of the currencies of the five member countries. The currencies are weighted equally: Brazilian real, Chinese yuan, Indian rupee, Russian ruble, and South African rand. That is, each country has the same weight in the basket, which is interesting from a political point of view.

This clearly aims to reduce dependence on traditional global currencies. It’s a sign that these economic blocs want to have more autonomy in their commercial transactions. The BRICS currency could change some dynamics in international trade if it actually gets implemented.

What’s coming now is to see if this moves from being a prototype to something functional. If they succeed, it would be a significant step forward in economic cooperation among these nations. Definitely something worth keeping a close eye on in the coming months.