A gold-backed BRICS currency won't work because the member states don't trust each other, especially Russia and South Africa. Moving and verifying gold shipments creates logistical nightmares. Bitcoin is the only neutral settlement layer that could actually solve the trust problem money was invented to fix.
Sure, the BRICS, they're going to have a new currency, right? A gold-backed currency. They can't even trust each other. At the last meeting in South Africa, they were going to arrest Putin if he went to the meeting. Putin from Russia. The R in BRICS couldn't go to the S in South Africa. But yeah, sure, they're going to trust each other. And even if they could, what, they're going to once a month load up pallets of gold on a plane and ship it across the sea or put it on the airplanes? How do I know if China really has the gold they say they have? How do I know that they'll actually deliver it to me if I need it and want it? What was the problem That money originally was created for? To solve trust. What's the problem today? There's no trust. The world needs a neutral settlement layer and a neutral reserve asset, period. And if it's not Bitcoin, then what?
