The Bitcoin Cash network will be upgraded on May 15 to include smart contracts that are “comparable to Ethereum” in terms of efficiency, and the Shanghai Cooperation Organization (SCO) aims to transition to settlements in national currencies. The upgrade will also enable “advanced on-chain applications like higher-security vaults, decentralized exchanges, and bridged sidechains,” making it more scalable and cheaper than Ethereum.
The World’s Largest Regional Organization intends to abolish the use of the US dollar in bilateral payments in favor of settlements in national currencies. Syria urges the BRICS to take the lead in abandoning the dollar and discussing Yuan adoption with China. Senator Ted Cruz of the United States believes bitcoin is a safe haven against inflation and an “important check” on government expenditures.
