Can brics currency dethrone the dollar? Myth or reality?

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dc.contributor.authorGedikli, Ayfer
dc.contributor.authorErdoǧan, Seyfettin
dc.date.accessioned2025-10-11T20:45:32Z
dc.date.available2025-10-11T20:45:32Z
dc.date.issued2024
dc.departmentDüzce Üniversitesien_US
dc.description.abstractThe BRICS members have been working on an alternative currency to the reserve currencies such as US dollar and euro, for international trades and foreign currency reserves to diversify investments, enhance fund security, preserve value, strengthen country relations, improve trade efficiency, and rebalance global financial power. By reducing dependence on the US dollar, they aim to enhance their economic resilience, promote a more multipolar global financial system, and protect against geopolitical and financial risks. The stunning improvements in IT technologies let both sovereign governments and nongovernment entities to initiate their own digital currencies. Between 2017-2024, the number of people using cryptocurrencies increased by more than 70 folds. With these revolutionary improvements and advantages of cyrptocurrencies, there has been a rising question of whether cryptocurrencies can be used as common BRICS money, and whether the proposed BRICS currency dethrone the dollar. © 2025 Elsevier B.V., All rights reserved.en_US
dc.identifier.doi10.4018/979-8-3693-7393-4.ch009
dc.identifier.endpage306en_US
dc.identifier.isbn9798369373934
dc.identifier.isbn9798369373958
dc.identifier.scopus2-s2.0-105008587595en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage275en_US
dc.identifier.urihttps://doi.org/10.4018/979-8-3693-7393-4.ch009
dc.identifier.urihttps://hdl.handle.net/20.500.12684/21410
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherIGI Globalen_US
dc.relation.publicationcategoryKitap Bölümü - Uluslararasıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.snmzKA_Scopus_20250911
dc.subjectCryptocurrencyen_US
dc.subjectFinancial Marketsen_US
dc.subjectInvestmentsen_US
dc.subjectAlternative Currencyen_US
dc.subjectFinancial Risksen_US
dc.subjectFinancial Systemen_US
dc.subjectForeign Currencyen_US
dc.subjectGeopolitical Risksen_US
dc.subjectNumber Of Peoplesen_US
dc.subjectPoweren_US
dc.subjectUs Dollaren_US
dc.subjectInternational Tradeen_US
dc.titleCan brics currency dethrone the dollar? Myth or reality?en_US
dc.typeBook Parten_US

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