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Parent Post: Do You Throw Them Or Catch Them? Give Me your BRICS
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rick
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6/12/2025, 5:32:47 PM
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Maybe they don't have to a whole lot to do some business. Most seem to just not want to get their money seize.d The BRICS payment system takes 7 seconds and cost close to zero. SWIFT money has to go through the New York Banks so they can get their cut and is held up for several days.
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sacredcow
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6/13/2025, 6:15:12 PM
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The BRICS system takes 7 seconds? Is that what Russia says, or China says? India and China going to send money to each other?
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rick
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6/13/2025, 6:29:32 PM
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BRICS Pay Cost and Speed BRICS Pay is a digital payment system designed to facilitate fast and cost-effective cross-border transactions among BRICS nations. It leverages blockchain technology and direct network links to enable near-instant settlements, significantly reducing the time required for transactions compared to traditional banking systems, which can take 2–5 days. In terms of cost, BRICS Pay offers lower fees by minimizing intermediaries and direct currency exchange, in contrast to traditional systems that often involve high fees due to multiple banks and currency conversions. The system aims to provide a decentralized and secure platform for transactions, with the potential to further reduce costs through the use of blockchain and digital currencies. BRICS Pay also supports multiple currencies and cryptocurrencies, allowing users to transact in their local currencies or digital assets, which can further enhance cost efficiency and convenience. The system is designed to be inclusive, enabling anyone in BRICS nations with a bank or mobile money account to participate, thereby promoting financial inclusion. Overall, BRICS Pay aims to offer a faster and more cost-effective alternative to traditional cross-border payment systems, leveraging advanced technologies to enhance efficiency and reduce costs. https://en.wikipedia.org/wiki/BRICS_Pay https://www.brics-pay.com/
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sacredcow
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6/13/2025, 6:58:59 PM
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What they say and what will happen are two different things. Russia also talks super trash about what they can do but real life is different than what they promise. I have a cashapp, it doesn't go through New York. I have a bank account that I can transfer money with. It doesn't take long for money to be transferred.
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