De-dollarization: The BRICS+ Decentralized Monetary Ecosystem on the Move

May 16, 2024

Introduction
2024 marks the start of a geo-economic revolution: the launch of a decentralized monetary ecosystem, known as “The Unit”. This concept, proposed by the BRICS+ Business Council, could become a reality as early as 2025, offering a solution to global monetary challenges.

Background and objectives of “The Unit
“The Unit” aims to resolve the global crisis of confidence that is undermining the current economic system. According to Alexey Subbotin, founder of Arkhangelsk Capital Management, this new monetary system is designed to address the shortcomings of the Bretton Woods framework, established 80 years ago. Chronic deficits, speculative bubbles and political sanctions have prompted the global majority to seek more reliable alternatives.

Features and benefits of “The Unit
“The Unit” presents itself as a decentralized international currency, anchored 40% in gold and 60% in BRICS+ currencies. Unlike cryptocurrencies or stablecoins, “The Unit” is a tangible solution for cross-border payments. This innovative currency offers significant advantages:

  • Political Independence: Avoiding political pressure, it enables financial sovereignty for participating countries.
  • Economic efficiency: Suitable for both traditional banks and modern digital services, it facilitates international exchanges.
  • Transparency and Security: Using distributed ledger technology, it guarantees transparency and prevents the manipulation of exchange rates.

Practical application and scalability
The fractal architecture of “The Unit” enables easy scalability, supported by rules maintained by IRIAS and audited by the UN. Nodes can be established by public and private players, promoting rapid global adoption. In addition, this currency can be integrated with DEX platforms and commercial and central banks worldwide.

Potential impact and institutional support
“The Unit” has already received the backing of the BRICS Economic Council and is on the agenda of crucial ministerial meetings. With a roadmap scheduled for the October summit in Kazan, its adoption could become a reality as early as 2025. Influential figures such as Sergey Glazyev and institutions like the BRICS New Development Bank (NDB) see “The Unit” as a viable solution for a global payment system.

Conclusion
“The Unit represents a major breakthrough in global monetary infrastructure, offering a viable alternative to current centralized systems. By combining political independence, economic efficiency and transparency, it could well become the cornerstone of a new era of international trade and investment. The adoption of this currency by the BRICS+ could transform the global economic landscape, promoting fair trade and sustainable growth.

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