BRIC Coin - The TRC20 Token Backed Up by International Finance Remittance From BRICS Countries

The BRIC Coin is a TRC20 token backed by international finance remittance from BRICS countries. It is designed for cross-border transactions among BRICS nations. The project is being led by BRIC Global Ltd, a UK-based international services company focused on imports and exports in many countries. The team behind the project is working to apply blockchain technology to expand international trade.This project is being supported by the BRICS business council. According to the BRICS Business Council, the development of a cryptocurrency is not difficult. In addition, it is a convenient mechanism for settlements within supranational structures, including BRICS. As a result, the BRIC countries will get the most benefit from BTCT. The TRC20 protocol is a scalable and secure protocol that supports multiple tokens.

The BRICS group of major emerging economies have proposed the creation of a cryptocurrency to help settle payments

The plan is to develop a single payment system with one cryptocurrency. The BRICS business council is also supporting the idea. Eventually, the five nations will launch their own centralized cryptocurrency. This will simplify the process of international payments and make the BRIC Coin the most widely used cryptocurrency in the world.The TRC20 protocol will help developers create a cryptocurrency that is compatible with ERC-20 standards. It will also enable users to create smart contracts on the TRON blockchain. The TRC20 protocol also has a high bandwidth capacity, making it possible to swap different types of crypto tokens. And since it is a blockchain, transactions will be faster. A TRC20 blockchain is more secure than Ethereum.Its underlying technology will help developers create smart contracts on TRON's blockchain. It will also allow smart contracts to be created in Dapps. The TRC20 protocol will allow developers to use ERC-20-compatible TRC20-based cryptocurrency. With this standard, developers will be able to create Dapps, which are designed to operate on the TRON blockchain.

The TRC20 protocol is an open protocol for creating cryptoassets

Its use will be limited to commercial uses. However, it has many applications beyond that. A digital currency is a global currency that can be used in a variety of markets. A BRIC Coin can be backed up by several BRIC countries. It can be backed up by a digital asset, which is a form of security.The digital yuan is backed by a network of digital assets. China is expected to launch a digital yuan and the EU is developing an e-euro. The EU is also working on an e-euro. The Facebook-led Libra project has also raised regulators' hackles. The project aims to provide a global alternative to the USD.

BRIC coin as a solution

BRIC Coin is coming with the widely accepted and popular ecosystem of Blockchain to fill this gap and to remove these challenges. BRIC Coin is the token created on the Tron blockchain ecosystem for providing the facility to use escrow facilities without any third-party presence. BRIC Coin is the TRC20 token backed up by the international remittance of the overseas trades. The establishment of the BRIC coin was to eradicate complicated billings, documentation, custom, excise, import duty, etc. BRIC will be used as the escrow for both parties’ “Buyer” and “Seller” among B(Brazil), R(Russia), I(India) & C(China) Countries. Most companies from the BRIC countries do not have access to the western financial world and therefore must regulate the financing of their business activities in their own countries. This is massively limited by the lack of a global infrastructure of financial institutions in the respective BRIC countries. BRIC COIN uses exactly this niche, this deficit, to build up an independent financial institution with a focus on the letter of credit business, which specifically satisfies the needs of the previously mentioned companies in the BRIC countries. BRIC COIN oers the complete processing of goods transactions among the BRIC countries from a single source and especially the financing of these transactions. In the future, the BRIC COIN will also serve as a common currency. With the advantages:
• Elimination of exchange fees
• Elimination of many compliances’ restrictions
• Preservation of the currency's value
• Increase in the value of the currency Easier financing for imports and exports

The BRIC Coin is a cryptocurrency intended for cross-border transactions between BRICS nations

The five countries originally referred to themselves as the "BRICs," but the group now includes South Africa. The group has combined land area of 39,746,101.0 sq mi. The combined population of the BRICS nations is about three billion, making them one of the largest emerging market economies in the world.The BRICS economic bloc consists of Brazil, India, China, South Africa, and Russia. The countries are in the process of developing a single cryptocurrency for cross-border transactions. This will serve as a decentralized alternative to the global payment system, which is heavily influenced by US policy. The cryptocurrency would avoid US sanctions and facilitate trade with sanctioned countries. It is possible to create a global currency by creating a unified payment system between BRICS member nations.