BRICS digital bank will use Universa Blockchain technologies

The article originally published on: http://racib.com/czifrovoj-bank-briks-ispolzuet-texnologii-universa-blockchain

BRICS IT, Blockchain and Cryptocurrency Association and Universa Blockchain have signed a Partnership Agreement concerning the implementation of Swiss-based BRICS Digital Bank project.

The core of Universa Blockchain system will power the operations of the BRICS Settlement Center when using digital assets and currencies issued by BRICS and BRICS+ member states, in addition to trade and logistics transactions.

Earlier, Universa Blockchain founder Alexander Borodich was appointed co-chairman of BRICS Digital Settlement Center task force unit.

Oleg Sobolev, the Head of the Association, who also occupies the position of Vice President of a global commerce and logistics IT platform called “New Silk Road BRICS” (newsilkroadbrics.com), which issued the first BRICS cryptocurrency, comments:

Technological cooperation adds momentum to the development of the Digital Bank. Previously, we have signed a cooperation agreement with Joys Platform OÜ, which is part of BRICS Business Council, to establish BRICS payment system, based on the “New Silk Road BRICS” global commerce and logistics IT platform.

As a reminder, “New Silk Road BRICS” is a commerce and logistics platform initiated by the BRICS Transport and Energy Associations, based on resolutions by the heads of China, Russia, South African Republic and Brazil, which uses digital assets and tokens in actual foreign trade transactions.

Universa Blockchain founder Alexander Borodich added that facing the COVID-19 pandemic, we were particularly keen to see how the barriers between countries fuel the demand for digitization of the world’s leading economies:

We are counting on Universa technologies to play the decisive role in implementing the Digital Bank project and help millions of people, including those who have never heard the word “blockchain”, to enjoy all the advantages of the 21st century digital economy.

Both companies are RACIB members.