China News by Thebittimes.Com

While BRICS is explaining the merits of de-dollarization to other countries, Zimbabwe is in dire need of the US dollars to survive in a dysfunctional economy. Citizens of Zimbabwe are avoiding their local currency due to hyperinflation that’s engulfed the country for a decade. Zimbabweans have taken refuge by hoarding US dollars to beat inflation which helps them survive financially. Also Read: BRICS : Iran Proposes New Ambitious De-Dollarization Campaign Fintech companies in the US are providing them the service by flying planeloads of hard cash in the US dollars to Zimbabwe . At least thrice a week, a private jet lands in the guarded part of Robert Gabriel Mugabe International Airport in Harare. The private jet carries millions worth of hard cash in US dollars packed in various bundles. This comes at a time when BRICS is trying to make other countries distance themselves from the US dollar. Also Read: BRICS : Every African Country Preparing To Join the Alliance BRICS: US Finte...

Although rare, real-world blockchain utility does exist, now evidenced by one company’s efforts to reduce transactional fees in supply chains. The world is quick to blame inflation for the rising prices at grocery stores and retailers. This was the #1 political issue for recent Election Day voters in the United States. For example, media sources recently reported poll data that 85% of Americans could not afford to spend $200 on a Thanksgiving meal in November 2022, and only 25% could afford $100. However, few recognize inflation is only part of the problem. Higher costs for products and services are also directly attributable to settlement fees paid by transportation providers who are forced to take out the equivalent of payday loans against their freight invoices. Shipper payment terms in the transportation industry are known to be egregious, and most transportation carriers cannot afford to wait 30–180 days to get paid. When a carrier factors, it pledges the collection rights in its...