S19: BRICS are coming

You and Your business need a shift

Have you been hearing BRICS, and you have been wondering what it is, or how it comes to play? yeah, we are trashing that out today, we will be looking at what it means for you and your business, how likely are you to position yourself and make a shift, how you need to think ahead and make strategic adjustment fit for your business.

if you keep hard currency portfolio, why should you start looking at stepping down on dollar and buying up some Yuan.

Welcome to Breakfast with Blockchain

Welcome to Breakfast with Blockchain, the vantage point for crypto, mainstream technology and strategic financial positioning. we strife to be a community of importance where we learn and educate ourselves about happening around us especially within the technology space.

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Announcement

the 21st series is a community call, we have tagged it, 21 on 21. which will set the first pace for our community, 21 questions on the 21st series and 21 giveaways. we intend to do this on every 21st series. the second community call is going to be on the 42nd series. i have tagged this on the dashboard, please set a reminder, share it to crypto enthusiast. and stay connected to my page to know everything about the proposed giveaways.

Let's get started

Today's series is powered packed, my name is kayode, i prefer you refer to me as Sirflex, i am your host, and co-hosting with me today is Tailat, a very brilliant designer. we have 7 topics in today's series

1. what is BRICS: a brief dive into her existence

2. what have they been up to

3. Recent events that makes them closer to you than you think and why you need to make a shift

4. the impact in Crypto

5. the impact in Nigeria

6. the impact for you

7. Questions, Contributions & Conclusion

What is BRICS

if you are hearing BRICS for the first time, i was as curious as you are. it is an acronym for Brazil, Russia, India & China. then later South Africa.

it was first coined in 2001 by Goldman Sachs's Chairman Jim O'Neil, in a report written on growth prospect for the economies of Brazil, Russia, India & China which jointly made up a considerable portion of global production and population.

for those that are wondering, Goldman Sachs is an American multinational investment bank and financial services company, founded in 1869, they have been in the business for over 200year+. and they have what it takes to analyse and issue reports.

for investment purpose, the list of emerging economies sometimes include South Korea, which expand the acronym to BRICK.

the 4 of those countries first met in New York in 2006 and later did a full scale summit in Russia in 2009. the summit focused on global economic stability & reforming financial institution. after the summit the BRIC nations announce the need for a new global reserve currency that will be diverse, stable, & Predictable.

High Controversy: is it a coincidence that Bitcoin launched the same year the first summit of a move for a new world order happened?

2009 becomes a very important year in the reform of a new world order.

3 event take home happened.

1. January 2009, Bitcoin was launched

2. 16 June 2009, the first official summit was held by BRIC

3. late 2009, BRIC announced the need for a new global reserve currency.

it is safe to say that "the journey for a new world order began officially in 2009".

South Africa later joined in 2010 and together they have an estimated population of 3.21billion & they own 32.1% of global GDP totalling to about $51.1Tn

What are they up to?

Number 1, they are seeking allies against the increasing western opposition, they are considered to be the front runner rival of G7 consisting of Canada, France, Germany, Italy, Japan, UK & USA.

Secondly, Bilateral relationship among the BRICS nation are conducted on the basis of

1. non interference

2. equality

3. Mutual Benefit

Development wise, they have introduced

1. BRICS FORUM: which is an international independent organisation to promote cultural, political & commercial cooperation among the BRICS nation.

2. New Development Bank: formerly called BRICS development Bank, a multilateral bank operated by BRICS state to drive private & public sector among the state, it is estimated to be around $100bn & nations in it can lend $35bn annually

3. BRICS CRA: it is a contigent reserve arrangement to provide protection against global liquidity pressure.

4. BRICS payment system: a global payment system that will be independent of SWIFT (society of worldwide Interbank Financial Telecommunication). so that with or without SWIFT, financial transactions can be conducted seamlessly.

what i can say at this point is What a great time to be alive

1. witnessed a shift in world reserve currency

2. witnessed a multi million dollar bank sold for £1

3. witnessed a multibillion dollar bank sold for $3.3Bn

Recent event that makes them closer to you than you think

1. Western Banks are failing, the ripple effect of Signature Bank impact large technology enterprise world wide. about 200 institutions were affected include subsidary banks & payment platforms, even onramp & offramp of some crypto to fiat platforms

2. as banks are failing in the US, Banks are also failing in the UK, we have seen bank changed ownership on ridiculous amount of money

3. the solution of the western world to looming financial crisis is to print more money that is tied to nothing. its worth to note that 80% of all US dollar in circulation were printed in the last 27 month from $4Tn to $20Tn, the most recently printed about another $300bn to bailout the banks.

4. meanwhile support for western inconsistency are dropping starting with Saudi Arabian National Bank's decline the request from Credit Suisse Bank to the tune of $51bn, guess what, Saudi Arabia is applying to join the BRICS

5. While USA are placing bans on Russia for annexing Ukraine, India is busy buying diesel from Russia at ridiculous discounted price.

6. same way Brazil is also intending to buy alot of diesel from Russia

7. 4 nations have applied to join BRICS nation, 5 nations are interested in becoming members & 7 nations are been dialogued by BRICS

8. China recently held a meeting with Russia to use Yuan to settle trades with Africa, Asia & latin America. US restriction on Russia is getting diluted. US Dollar will be sidelined

1. Applicant Nation: Algeria, Argentina, Iran, Egypt

2. Nations interested: Afghanistan, Indonesia, Saudi Arabia, Syria & Turkey

3. BRICS Dialogued nation: Kazakstan, Mexico, Nicaragua, Nigeria, Senegal, Thailand & UAE

The Impact for Crypto

resent research has shown that the overall sentiment of the cryptocurrency and blockchain industry react to BRICS related news than US Dollars. more recently is the issues of Feds sueing Binance and the CEO for violating US trading laws. this kind of news usually will tank the price of BNB in the olden days. the effect of the news on the price of BNB is just little to none. meanwhile

1. Russia has updated its laws to accommodate cryptocurrences and are looking at making it a legal tender.

2. India has hopes in digital future

3. Russia leads multinational stablecoin initiative

4. India approves joint MoU for blockchain research with other BRICS member

when you look at the trends of crytocurrencies, this coming bull run may be the only opportunity you and I will have to make a tremedious fortune in cryptocurrency before large regulation steps in...

the impact of BRICS in Nigeria

Nigeria is not yet a member but it has the potential to be, everybody is asking, what will nigeria bring to the table to join the BRICS club aside from Diesel. we have seen recent announcement in Nigeria releasing funds to facilitate the technology industry, the entertainment industry is doing fine, so in no time, it is expected that the Nigerian space will join the evolution club sooner than later

What does it mean for you

1. travelling out: i wont want to japa to UK or US as these countries continue to lure you and hi on the basis of education and good life. UK is now even too populated with africans now that i personally term them advance Lagos or Lagos pro max.

   1. I suggest a look to emerging countries especially within the scope of BRICS, these are the powers of the future. you will be a determinant in 6years as against the UK, USA japa syndrome.

2. China for example have ease their tourism policy and now give room for people to come in and explore their country.

3. Business wise: especially for tech or digital skills, look within the BRICS scope, money are flying around that space, and you will definately be able to coop some for yourself.

4. its become easy to do buy from china and delivery are faster. we are going to see more import & export comfort and ease from BRICS related countries than the western scope you are used to. for example a jean in the US used to be N14,000 and a chinese jean used to be around N3500. many people will often argue from the angle of quality, i bet we all know now that the quality competes against the usual brands you know. look at the success stories with techno, and many of the chinese products we used to call inferior. people are now proud owners.

Conclusion

start shifting your portfolio especially if you are thinking long term. look into hard currencies & stocks that have disruptive use cases.

if you are doing crypto investment: double down on your losses and VA as much as you can when the opportunity present itself. go hard or go home. this is not a financial advice.

educate yourself and listen to news to keep you updated on what is to come.