BRICS nations are in the process of revolution. And they want to overthrow the demand of the USD on the soil. And they are making use of variety of options. Some use local currency. Some choose to do blcokchain based payments, some use gold and some are bartering. Yet the blockchain method has been successful and allows more options for further business to be established.
India and UAE two strategic friends are making use of the XRP and XRP Ledger for the oil trade. And it has helped them bypass the USD which means USD has lost some support.
Apart from this they seem to be good with the XRP usage in variety of upcoming trades. However they may need the currency which does not indirectly use the USD either. So they have to push for other company which is not US specific either. So in near future that would happen as well. This would help dump the USD back to the market. And the other respective currencies would get more value.
In near future there is also demand for the CBDC usage too. So we have to see which CBDC would be usable. So on that approach we have to learn how to get the currency war leading to other events in the outer world too.
You can expect USA making other moves to get more value for the USD. Like say weapon sales, political thrown being damaged in asia to get them access to the US market and making them dependent on the USD. So there is going to be a lot of drama while the USD collapses.
Strange and warlike times ahead! But BRICS and others have to move on and not depend on USD in order to survive better!
