Building a digital economy (the case of BRICS)

The main direction of our research on building a digital economy includes the introduction of blockchain and cryptocurrency in the BRICS countries; advantages, obstacles, and prospects of the digital economy; the impact of robotization on the economic development of countries. The digital transformation of the economy of the BRICS group can be facilitated by the use of blockchain technology. The study identified the main advantages, threats and directions for the creation and use of a new cryptocurrency (BRICScoin) and blockchain technology by the BRICS countries. The digital economy is on the agenda around the world today, it is a new paradigm for the development of countries’ cooperation, and can become a driver of their economic growth. On the basis of the analysis, the advantages, obstacles and recommendations for the development of digital transformation in the BRICS countries were identified. Research in the development of robotics has revealed the benefits and challenges of this process. The use of a mathematical model made it possible to conclude that the growth of an existing fleet of industrial robots in the country affects the growth of its economy. The further development of robotics in the country will help increase its economic potential, product quality and export of innovative high-tech products.