BRICS nations, which include the five significant upcoming economies of the world, Brazil, Russia, India, China, and South Africa, are looking into the idea of launching a unified payment system, in the form of a cryptocurrency. On November 13th and 14th, the BRICS nations association held their 11th summit in Brazil in which the talking points such as technology, innovation, and digital economies, took center stage. The five nations engaged in hours-long discussions regarding how to curb two of the most pressing issues that continue to hamper the trade relations between them, that is, money laundering and drug trafficking. BRICS