BRICS: Brazil Champions Digital Revolution in Emerging New World Order

• BRICS Member Calls for Digital Revolution in New Globalization Effort
• Brazil's Stance on the Digitalization of Finance
• Addressing Global Inequality
• The Future of Digital Currencies in BRICS

BRICS Member Calls for Digital Revolution in New Globalization Effort

At a recent G20 meeting, Brazil's President Luiz Inacio Lula da Silva emphasized the importance of a digital revolution in the new world order. He spoke candidly about a new and necessary approach towards globalization, with digitization playing a crucial role in minimizing discrepancies.

Throughout his address, Da Silva expressed concern for the global inequality crisis. He also brought to light the urgent need for sustainability and decarbonization in conjunction with a digital revolution in the global economy. These initiatives are all seemingly at the forefront of Brazil's collaboration with the BRICS alliance.

Brazil's Stance on the Digitalization of Finance

The ongoing conversation about the digitalization of finance and other global industries has been a primary focus this year. The world has witnessed a significant global leap forward in digital finance. One economic coalition, in particular, appears to endorse its potential influence on new globalization efforts.

Specifically, at a G20 meeting, Brazil, a BRICS member country, advocated for a digital revolution in the new world order. This sentiment emerged after Russia's President Vladimir Putin expressed his intent to challenge the current Western-dominated world order.

Addressing Global Inequality

In President Lula Da Silva's speech, he underscored the escalating inequality on a global scale. He did not hold back in mentioning Brazil's role in combating this growing problem. Consequently, a change in the form of digitization provides a greater opportunity for such a transformation.

The Future of Digital Currencies in BRICS

Da Silva's comments come as the BRICS alliance is anticipated to introduce a native currency by 2024. Given the success of digital asset implementation across the alliance, many predict a blockchain-based digital BRICS currency. This development could potentially challenge the current world order and herald a new digital revolution.

Edited by Jonathan Stoker