global reserve currencies are adopted in a voluntary manner
Tell that to Gadhafi! Oh wait ...
Anyway, there's likely going to be a variety of changes occurring all at once. This BRICS basket (or maybe it is just a RIC basket) doesn't even need to be adopted outside of the small set of countries participating for them to be displace the use of the dollar for cross-border payments. Bitcoin may even play a part in that (as the method to swap between the local currency and the currency basket), who knows.
Tell that to Gadhafi! Oh wait ...
Anyway, there's likely going to be a variety of changes occurring all at once. This BRICS basket (or maybe it is just a RIC basket) doesn't even need to be adopted outside of the small set of countries participating for them to be displace the use of the dollar for cross-border payments. Bitcoin may even play a part in that (as the method to swap between the local currency and the currency basket), who knows.