BRICS Pay

might be a cornerstone for payments for a Sovereign and Prosperous Nations

Achieving financial independence is paramount for nations seeking political, energy, food, technological, and other forms of sovereignty

Full control over financial resources is necessary for countries to achieve true sovereignty. This pursuit is a shared goal among nations striving for independent policies and the well-being of their citizens

Financial sovereignty empowers a nation to independently manage its financial resources and relationships, both domestically and internationally. It entails the freedom to make financial decisions and take financial actions without external influence or coercion from other countries or international entities

This resource encapsulates the collective expertise of BRICS Business Council members from various nations, including those yet to formally join BRICS+ but committed to contributing to a new global financial and payments architecture within the BRICS+ framework

The Bretton Woods-era global financial system is undergoing a significant transformation. We are witnessing rising global debt, increasing wealth inequality, and the fragmentation of trade and finance systems. Our goal is to ensure equal access to financial technologies and global wealth, providing everyone with the opportunity to reach their full potential. Today, we begin building a new, fair, and decentralized financial system for the future

A nation's financial strength and wealth will no longer be determined by proximity to global emission centers or the size of its derivatives market. Instead, the true measure of a nation's prosperity will lie in its abundance of natural, cultural, industrial, intellectual, and human resources

To realize the BRICS Pay project, technological, financial, legal, and consulting firms are uniting to form the BRICS Pay Consortium, operating under the principles of a decentralized autonomous organization (DAO). The Consortium adheres to the regulations of each country where its members operate. It is a network-based entity without a central headquarters. The Consortium's membership is not publicly disclosed

BRICS Pay Consortium's Areas of Focus

BRICS Pay QR

Retail Payment System

Learn more

BRICS Pay B2B

Business Payment System

Learn more

BRICS UNIT

BRICS+ Unit of Account (issue under discussion)

Learn more

BRICS Loyalty

Traveler Rewards System

Soon

BRICS CLEAR

Interstate digital settlement system for cross-border securities settlement

Soon

For more detailed information, please visit
the BRICS Pay Consortium page

https://brics-pay.com/consortium

BRICS Pay Architecture

The architecture of BRICS Pay envisions a more centralized structure within individual countries while maintaining a decentralized approach on an international scale. High-speed deployment, scalability, decentralization, and interoperability are achieved through the creation of distributed networks for transmitting both payment information and liquidity.

The system's core topology is a decentralized star-topology, represented as a connected graph with subgraphs—payment networks within each country. Participants in the settlement system can connect to various vertices (nodes) of transactions. These subsystems (subgraphs) represent existing or prospective payment systems, with local settlement banks located at the centers of these subgraphs. Each country may have multiple such banks. Additionally, within the implemented topology of BRICS Pay, participating banks can establish direct relationships with other foreign banks or another financial institutions.

BRICS Pay Architecture

The architecture of BRICS Pay envisions a more centralized structure within individual countries while maintaining a decentralized approach on an international scale. High-speed deployment, scalability, decentralization, and interoperability are achieved through the creation of distributed networks for transmitting both payment information and liquidity.

The system's core topology is a decentralized star-topology, represented as a connected graph with subgraphs—payment networks within each country. Participants in the settlement system can connect to various vertices (nodes) of transactions. These subsystems (subgraphs) represent existing or prospective payment systems, with local settlement banks located at the centers of these subgraphs. Each country may have multiple such banks. Additionally, within the implemented topology of BRICS Pay, participating banks can establish direct relationships with other foreign banks or another financial institutions.