Recent headlines suggested that the longstanding 50-year agreement between the United States to exclusively price oil in US dollars had expired, sparking concerns that the era of the Petrodollar may end. Despite initial fears, it was later confirmed that this information was inaccurate. Nevertheless, significant developments occurred during this period as BRICS introduced a new payment system, and Saudi Arabia subsequently became a participant in this initiative.
A potentially game-changing development is on the horizon as a consortium of emerging nations, known as BRICS, prepares to unveil a new payment system, which it has been working on for years and is based on the Ethereum blockchain. This innovation, with its potential to disrupt the US dollar's dominance, could signal a long-awaited breakthrough for global commerce and provide relief to countries struggling with crippling economic sanctions and the exploitative petrodollar system. Read the full article here
