The BRICS nations are showcasing the power of collaboration in science and technology, achieving significant milestones that extend beyond their unified payment system. BRICS Pay has taken the internet by storm, with its QR code-based mobile app enabling seamless purchases and fostering financial independence through a decentralized and inclusive system established in 2019.
This innovative payment solution not only simplifies transactions for individuals but also allows member countries to efficiently manage cross-border payments, reducing reliance on specific foreign currencies. Such advancements underscore BRICS' commitment to enhancing financial sovereignty among its member states.
Space exploration is another frontier where BRICS is making impactful strides. China has been at the forefront, sharing its space achievements with fellow BRICS countries to benefit a wider population. In late 2023, China launched a platform to disseminate remote sensing data, aiding BRICS members in monitoring natural disasters. Marco Antonio Chamon, president of the Brazilian Space Agency, praised the collaboration, highlighting plans for future joint space projects.
Industrialization efforts within BRICS are equally impressive. The China-BRICS Science and Innovation Incubation Park for the New Era, launched in Xiamen City, serves as a hub for technological advancement and cooperation. A recent promotion event in Russia attracted over 300 Russian enterprises, showcasing 13 technological achievements and collaborative projects, signifying strong industrial ties.
Innovation continues to flourish through initiatives like the BRICS Industry Innovation Contest 2024, which concluded in September. Over the past five years, more than 5,000 teams from various countries have participated, fostering technological exchanges and strengthening industrial capabilities across BRICS nations.
Artificial Intelligence (AI) is another key area of cooperation. China has established the China-BRICS AI Development and Cooperation Center, aiming to bolster industrial synergy and build capacity among member states. This center is pivotal in driving forward-thinking AI projects that can address global challenges and promote sustainable growth.
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More than just payments: BRICS sci-tech cooperation sees solid results
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