{"id":235814,"date":"2026-01-13T16:05:24","date_gmt":"2026-01-13T16:05:24","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/235814\/"},"modified":"2026-01-13T16:05:24","modified_gmt":"2026-01-13T16:05:24","slug":"international-group-makes-bold-move-to-challenge-dominance-of-us-currency-leaving-the-dollar-behind","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/235814\/","title":{"rendered":"International group makes bold move to challenge dominance of US currency: ‘Leaving the dollar behind’"},"content":{"rendered":"

BRICS nations have unveiled a working prototype of a gold-backed<\/a> digital currency, the “unit,” as part of their effort to reduce reliance on the U.S. dollar.<\/p>\n

The unit is gaining attention from policymakers worldwide, according to bne IntelliNews<\/a>.<\/p>\n

The BRICS group<\/a>, including Brazil, Russia, India, China, South Africa, and several newer member states, has expressed concerns about the risks of the dollar-dominated financial system<\/a>, particularly after sanctions froze Russian assets following its invasion of Ukraine.\u00a0<\/p>\n

The unit operates on the Cardano blockchain<\/a>, backed by a reserve of 40% physical gold and 60% national currencies from core BRICS countries. An October pilot program<\/a> issued 100 units, each pegged to 1 gram of gold.\u00a0<\/p>\n

Unlike consumer cryptocurrencies such as bitcoin<\/a>, the unit is intended for cross-border trade settlement among governments and institutions. Supporters argue it could reduce exposure to sanctions<\/a>, lower transaction costs, and simplify gold-backed trade<\/a>. Critics warn it may enable countries including Russia to hoard gold for war or manipulate currency<\/a>.<\/p>\n

For BRICS consumers, a successful alternative trade system could impact currency stability<\/a>, banking<\/a>, commodity pricing, and the cost of imports, particularly in emerging markets.<\/p>\n

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Energy-intensive crypto mining<\/a> has faced criticism for its massive carbon footprint and energy demand, which in some regions still relies heavily on fuels<\/a> that overheat the planet. But state-backed or other systems may avoid energy-heavy mining altogether and could increasingly run on renewable-powered<\/a> infrastructure, such as in China’s growing clean energy sector<\/a>.<\/p>\n

Though the unit has not been formally adopted as BRICS policy, it is “being closely monitored by central banks, particularly in the global south,” according to bne IntelliNews. But many still caution that scaling the experiment would require massive amounts of political coordination and trust.<\/p>\n

“BRICS nations have been leaving the dollar behind for at least 20 years now,” one Reddit user noted<\/a> in r\/Gold.<\/p>\n

One user in the r\/CryptoCurrency subreddit pointed out<\/a> that the unit CEO<\/a> is not a person: “This looks like a grift\/scam project. The ‘CEO’ of the Unit project is an AI.”<\/p>\n

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Get TCD’s free newsletters<\/a> for easy tips to save more, waste less, and make smarter choices \u2014 and earn up to $5,000 toward clean upgrades in TCD’s exclusive Rewards Club<\/a>.<\/p>\n

\t\t\t\"Cool<\/p>\n","protected":false},"excerpt":{"rendered":"BRICS nations have unveiled a working prototype of a gold-backed digital currency, the “unit,” as part of their…\n","protected":false},"author":2,"featured_media":235815,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,1418,127842,184,2607,85,46,3123,127843,62015,10462],"class_list":{"0":"post-235814","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-clean-energy","10":"tag-crypto-straight-news","11":"tag-economy","12":"tag-home","13":"tag-il","14":"tag-israel","15":"tag-reddit","16":"tag-straight-news","17":"tag-waste-less","18":"tag-yahoo-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/235814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=235814"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/235814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/235815"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=235814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=235814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=235814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}