The BRICS Pay PsyOp: Separating Fact from Fiction

Know the truth behind the BRICS Pay system in this comprehensive analysis. Debunking prevalent myths, this post offers a balanced, fact-based perspective on the much-hyped financial platform.

Here at Think BRICS, we take pride in providing rigorous, factual analysis of developments related to the BRICS alliance. Lately, misleading claims about an “official launch” of a payment system called BRICS Pay have been spreading across social and alternative media. As researchers closely monitoring the BRICS, we knew these reports did not match reality on the ground.

Tracing the origins, we found this myth began with a Sept. 2023 LinkedIn article speculating optimistically about the potential for a future joint BRICS payment network. While forward-looking, this was not factual reporting on a real product launch. Yet it morphed into portrayals of BRICS Pay as up and running across YouTube and websites hungry for content.

However, based on our ongoing analysis and conversations with those close to the BRICS, BRICS Pay remains a proposal in the early stages lacking official approvals. No real-world infrastructure, integration with major banks, or public rollout has occurred. This is essentially non-news being distorted as fact.

What led us to this conclusion? The BRICS Pay website has shown no progress since 2018. Official BRICS documents contain only a single sentence from 2021. Interviews with the BRICS Pay lead architect reveal major obstacles around aligning regulations across member states. And of course, no BRICS nation has announced adoption.

It appears the BRICS are still negotiating common standards before a shared payment platform can be developed. While SWIFT alternatives are actively being pursued over sanctions concerns, this is separate from the proposed BRICS Pay concept.

We at Think BRICS are strong proponents of the BRICS alliance as a counter to Western dominance. However, overhyping unfinished projects does more harm than good by leading to disappointment when reality does not match the myth. As researchers, we deal with facts, not speculation or wishes.

The BRICS have taken on an enormous challenge to the entrenched dollar system. Moving too fast risks destabilization, as Europe learned the hard way with the rushed euro rollout. For the BRICS to succeed, patience, pragmatism and incremental progress based on realities on the ground are essential. A sustainable multipolar order will not arise overnight.

In closing, we urge those interested in the global economic shift to be wary of sensationalized misinformation. Always verify using multiple credible sources and focus on the BRICS’ actual step-by-step progress in building new structures. Stay balanced and rational, friends. Real change takes time. We will get there through reason and perseverance.

Now is the time to expand your knowledge. Please watch our in-depth video on the real status of BRICS financial integration on our Think BRICS YouTube channel.

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