Another Revolution Is Coming In Cryptocurrency
Assalamu Alaikum
How are you my dear friends? Hope you all are well. Friends currently the crypto market is in a very good position where relative bitcoin price has increased along with alt coins also increased in value. Looking at this market situation, it is easy to say that a slight alt season is currently underway. But in the future, we may see the price of Bitcoin fall again. Anyway guys today we are not discussing this topic anymore, today we are going to talk about a topic which is that maybe we will see another revolution in cryptocurrency very soon.
We all are generally familiar with BRICS. BRICS is currently one of the most influential international organizations in the world. Currently its member countries are 10. They currently have a different kind of dominance in the world and the recent BRICS announcement that BRICS is going to bring their own cryptocurrency. And in view of this, Russia and Iran have started working on it. The total wealth of the top 5 BRICS countries is $180 trillion. Which is 40% of the world's total assets. BRICS i.e. Brazil, Russia, India, China and South Africa have total assets of $12.1, $17.5, $34.8, $139.1, $1.6 trillion respectively. That is, you understand how big the amount of property is. Also they have no fixed currency for inter-trade between them. That is, they are still dependent on the dollar to conduct their trade, which is outside of their choice. And so when Russia went to war in Ukraine, the US imposed many sanctions on Russia that caused Russia to buy gold and rubles as trading currencies to conduct their trade.
And so in order to avoid such severe restrictions, the BRICS countries have decided to create their own cryptocurrency. If they can implement this plan, they will be able to reduce the dependence on the dollar as well as create a revolution in the cryptocurrency world. If their own cryptocurrency hits the market, it can be assumed that many more cryptocurrencies will be added to it and the adoption of cryptocurrency will also increase. And I personally think that if one by one all the countries start accepting cryptocurrencies to make their trade more profitable, then very soon we will see a revolution in cryptocurrencies and at the same time all the countries that have not legalized crypto will come forward.
Friends, that's all of my discussion today, please let me know what you think of today's post in the comments. Thank you.
Some information are collected from Google.
https://twitter.com/youshamunna4/status/1791744311094390827?t=PM0wh1RP5PSuGzWuu9_UOg&s=19
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I feel like if cryptocurrency get legalize in all the country,then we are to see a revolution for sure in crypto,very informative and nicely written article.
I hope you enjoyed my entire post . Thank you so much for a nice comment.
I agree with you we will see a revolution in cryptocurrencies and at the same time all the countries that have not legalized crypto will step up.,Thank you keep going.
Yes because most of countries are legalized cryptocurrency and they are one step forward to their revolution.
Well that would sure be an interesting development, imagine if the BRICS countries all shift focus to cryptocurrency and it's blockchain, indeed we would outperform in this market further legitimatizing crypto use.
Yeap ! You are absolutely right.
Nice to see another alternative to cryptocurrency coming. From all this Revolution Is Coming is very important. Nice to know about your post. Thank you for sharing such important posts with us.
Thank you so much for reading my entire post and leave a very beautiful comment. I am very glad.