Russia is taking the lead in issuing a multinational stablecoin backed by commodities – a cyber-initiative connecting some of the most promising hub of hydrocarbon rich economies stretching across Eurasia, Africa and South America. However if such technology is fueled by hydrocarbon energy, temperatures are expected to rise 3.2 degrees Celsius above preindustrial levels by the end of the century. A decisive role could be played by the BRICS in finding innovative solutions to the functioning of the current global framework, particularly in transitioning to green economies.
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