🚀 BRICS Digital Currency: Cryptocurrency on a Public Blockchain 🪙

🚀 BRICS Digital Currency: Cryptocurrency on a Public Blockchain 🪙 In this article, we explore how the BRICS currency can be implemented on a public blockchain and challenge the claims made in "Digital Money Options for the BRICS" for Web3

🌍 The BRICS digital currency aims to integrate with existing monetary systems, creating a unified economic area for member nations 🤝 Its value is algorithmically derived from various economic factors of the participating countries 📈

💡 While the original paper suggests the impossibility of realizing the BRICS currency as a cryptocurrency, we'll challenge it 🤔 A public blockchain with SmartContracts, combined with Zero-Knowledge Proofs (ZKP), provides a natural fit for the implementation 🧩

🔍 Let's explore how the BRICS currency can leverage these technologies: ✅ Dynamic supply mechanism via smart contracts ✅ Legal compliance on-chain using ZKPs ✅ Integration with DeFi and zkLocus for authenticated private geolocation 👉 A cryptocurrency for Web3

💸 The dynamic supply of the BRICS currency is defined by a formula: M = ForT + FDI + PI + ForEx + G&EX + InterSec + Der + ForDeposit + EuroCurrency + MTransfer + Etc. This can be automated using smart contracts on the blockchain 🤖 Like Algorithmic stablecoins and Uniswap