The Origination.
Cryptocurrency is a digital currency that uses cryptography to maximize security and operates independently of a central bank. The origin of cryptocurrency can be traced back to the late1990s when researchers and developers began exploring the use of cryptographic techniques for secure financial transactions.
In 2009, the first cryptocurrency, Bitcoin, was created by an anonymous person or group using the pseudonym Satoshi Nakamoto. Bitcoin was designed as a decentralized alternative to traditional fiat currencies and operated on a peer-to-peer network, allowing for fast and secure transactions without the need for intermediaries such as banks.
Since the launch of Bitcoin, hundreds of other cryptocurrencies have been created, each with its own unique features and use cases. Despite the diversity of cryptocurrencies, they all share the common characteristics of being decentralized, secure, and transparent.One of the main benefits of cryptocurrency is its decentralized nature, which eliminates the need for intermediaries and reduces the risk of fraud and corruption. This also allows for faster and more secure transactions, as the peer-to-peer network can validate transactions almost instantly.
Another benefit of cryptocurrency is its increased security and privacy. Transactions are secured using cryptographic algorithms, which makes it nearly impossible for hackers to steal or modify information. Additionally, many cryptocurrencies offer greater privacy than traditional financial systems, as users can transact anonymously without revealing their personal information.
What is BRICS?
BRICS is an acronym used to describe the five major emerging economies in the world: Brazil, Russia, India, China, and South Africa. These countries are considered to be among the largest and fastest-growing economies in the world and have a significant impact on the global economy.
The idea of BRICS as a group was first introduced in 2001 by Goldman Sachs economist Jim O’Neill. Since then, BRICS has become a widely recognized term, and the five countries have established a formal organization known as the BRICS Summit to promote cooperation and coordination among the member states.
One of the key strengths of BRICS is the large and growing size of their economies. Combined, the five countries account for over 40% of the world’s population and around 24% of the global GDP. Additionally, these countries are projected to continue to grow at a fast pace in the coming years, which will further increase their economic influence.
Another important aspect of BRICS is the diversity of their economies. While all five countries are considered emerging economies, they have different economic structures and growth drivers. For example, China and India are characterized by large and rapidly growing consumer markets, while Russia and Brazil are rich in natural resources. South Africa is a combination of both, with a large consumer market and rich mineral resources. This diversity among the BRICS countries provides opportunities for cooperation and mutual benefit.
Features of BRICST
BRICST has several key features that set it apart from other cryptocurrencies. These include:
Earn by Staking:
BRICST will pay holders by staking coins. Holders will earn a 5% interest for staking their coins for 90 days, 6% for 6 months, 7.5% for 12 months, and 9.5% for 24 months. **This is the initial return on offer. Subject to vary.
Earn by Staking:
BRICST will pay holders by staking coins. Holders will earn a 5% interest for staking their coins for 90 days, 6% for 6 months, 7.5% for 12 months, and 9.5% for 24 months. **This is the initial return on offer. Subject to vary.
Stability
As a currency pegged to the BRICS Plus currency basket, BRICST provides a stable and secure platform for transactions and investments. BRICST will initially be pegged to the Chinese Yuan - 1 coin equals 7 Yuan, just over 1 USD approximately as of early 2023. This makes it an ideal choice for businesses, investors, and individuals who want to avoid the volatility and uncertainty of other cryptocurrencies.
Stability
As a currency pegged to the BRICS Plus currency basket, BRICST provides a stable and secure platform for transactions and investments. BRICST will initially be pegged to the Chinese Yuan - 1 coin equals 7 Yuan, just over 1 USD approximately as of early 2023. This makes it an ideal choice for businesses, investors, and individuals who want to avoid the volatility and uncertainty of other cryptocurrencies.
Accessibility
BRICST is designed to be user-friendly and accessible to all. Transactions can be processed quickly and easily using a variety of platforms and devices, making it an ideal choice for people who are new to cryptocurrencies.
Accessibility
BRICST is designed to be user-friendly and accessible to all. Transactions can be processed quickly and easily using a variety of platforms and devices, making it an ideal choice for people who are new to cryptocurrencies.
Security
BRICST is built on a decentralized platform that uses cutting-edge security protocols to protect users' assets. Transactions are processed on a secure and transparent blockchain, and all data is encrypted to ensure maximum security
Security
BRICST is built on a decentralized platform that uses cutting-edge security protocols to protect users' assets. Transactions are processed on a secure and transparent blockchain, and all data is encrypted to ensure maximum security
Cost-Effective
Cryptocurrency transactions are generally less expensive than traditional banking transactions, as there are no intermediaries involved.
Cost-Effective
Cryptocurrency transactions are generally less expensive than traditional banking transactions, as there are no intermediaries involved.
Security
BRICST is built on a decentralized platform that uses cutting-edge security protocols to protect users' assets. Transactions are processed on a secure and transparent blockchain, and all data is encrypted to ensure maximum security.
Security
BRICST is built on a decentralized platform that uses cutting-edge security protocols to protect users' assets. Transactions are processed on a secure and transparent blockchain, and all data is encrypted to ensure maximum security.
Raise of BRICS Currency.
The BRICS countries – Brazil, Russia, India, China, and South Africa – have a combined population of over 3 billion people and account for approximately 24% of the world’s total GDP. Given their economic influence, there is increasing interest in the potential of a BRICS currency as an alternative to the dominant global currencies, such as the US dollar and euro.
One of the key advantages of a BRICS currency is that it would promote greater economic integration among the member countries. By using a common currency, trade and investment flow between the BRICS countries would become easier and more efficient, which would lead to increased economic cooperation and interdependence. Additionally, a BRICS currency would provide a more stable and predictable exchange rate, which would reduce currency risk for businesses operating in the member countries.
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How Cryptocurrency Works
Cryptocurrency operates on a decentralized system, meaning there is no central authority that controls the flow of funds. Transactions are recorded on a public ledger called the blockchain, which is a secure and tamper-proof record of all transactions. The blockchain is maintained by a network of computers, known as nodes, that validate and record each transaction. This eliminates the need for intermediaries such as banks, which reduces the risk of fraud and increases security.
One of the key features of cryptocurrency is its use of cryptography. Cryptography is the practice of secure communication, which helps to protect the privacy of transactions. Cryptocurrency uses a combination of public and private keys to ensure the security of transactions. Public keys are used to identify a user’s account, while private keys are used to sign transactions and ensure that only the owner of the account can make transactions.
The Mission and Vision.
The main objective of BRICST is to provide a stable and secure platform for transactions and investments in the BRICS region and beyond. The BRICS countries are rapidly growing and becoming increasingly important players in the global economy, and BRICST is designed to help facilitate their continued growth and development. By being pegged to the BRICS currency basket, BRICST eliminates the risk of sudden price fluctuations that can occur with other cryptocurrencies, providing a stable and reliable platform for transactions and investments.
BRICST is also designed to promote financial inclusion in the BRICS region and beyond. Many people in these countries lack access to traditional banking services, which makes it difficult for them to participate in the global financial market. BRICST provides a simple and accessible platform for transactions and investments, allowing more people to participate in the global economy and benefit from its growth and development.
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DISCLAIMER: BRICSTX is currently finalising licenses to operate an exchange that can onboard fiat currency. Until then the use of fiat currency isn’t available