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BRICS and the World Turn Away from USD, Focus on New Currency and Bitcoin as World Reserve Currency

Ana Palacio, a former World Bank Executive, has suggested that the BRICS countries - Brazil, Russia, India, China, and South Africa - may be considering alternatives to the US dollar, including the use of a shared currency. Palacio believes that the quest for a "new order" is driven by a perceived gap between the current Western-led global governance system and the interests of some developing countries. At least 19 countries have expressed interest in joining BRICS, including Argentina, Turkey, and Saudi Arabia. Bitcoin is also being considered as a possible alternative currency due to its potential to mitigate currency risks and increase efficiency, as well as its potential to facilitate trade and financial transactions among countries outside the traditional banking system.

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