Barriers to de-Dollarization Within BRICS

... risk management that they currently have in utilizing the dollar, euro or yen” (Karataev et al., 2017 (p.110-111)). In 2018, export-oriented development banks from all BRICS countries signed a MoU to enhance understanding of distributed ledger or blockchain technology for solving challenges in trade finance, with the aim of identifying areas to improve operational efficiencies and tackle common financial challenges. In 2019, the BRICS Business Council formed a working group exploring how a special trade-facilitating BRICS crypto-currency could be ...