The Dollar Diplomacy We Need
It is no surprise that the BRICS have been at the forefront of digital-asset pilot projects that could upend the established Bretton Woods order. But the most promising alternative to this adversarial vision is simple: Keep the Western-dominated architecture, but modernize the rails that carry cross-border payments.
https://prosyn.org/S1yuu5u
WASHINGTON, DC – Amid the recent maelstrom of political news was an important development for the future of technology-enabled public money. During the BRICS Summit in Kazan, Russia, the Bank for International Settlements revealed that it was withdrawing from the digital-asset and payments initiative Project mBridge.