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Opinion Piece: By Mosa Cibi
As the South African Reserve Bank (SARB) advances its push toward a cashless society, the global digital currency revolution is gaining momentum.
Among the key players, the BRICS bloc has hinted at its own digital currency, called ‘BRICS Pay’. This cryptocurrency aims to facilitate trade among BRICS partners, with Yury Ushakov, a top Kremlin foreign policy aide, stating:
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people, and businesses, as well as cost-effective and free of politics.”
But how does nuclear energy factor into this vision? Enter Rosatom’s pioneering small modular reactors (SMRs), a potential game-changer for South Africa’s energy challenges.
The energy demands of crypto mining
Cryptocurrency mining, such as Bitcoin, ias highlighted by one X user @TheMusicBinger in a post shown below, is notoriously energy-intensive. South Africa’s current energy crisis, characterised by rolling blackouts and a struggling power grid, underscores the need for reliable power sources to support such digital advancements.
Why not solar or wind energy solution?
While renewable energy sources like solar and wind are crucial for a green future, they face limitations due to their intermittent nature. Nuclear power, on the other hand, provides consistent and reliable energy, emitting minimal greenhouse gases. SMRs, in particular, offer scalable solutions tailored to South Africa’s needs.
Overcoming challenges
Adopting nuclear energy comes with hurdles, including significant upfront investment and South Africa’s track record of delays in infrastructure projects. However, if executed properly, nuclear power offers lower operating costs over time—a blessing for struggling households burdened by rising electricity prices.
Beyond cryptocurrency: powering futures
Nuclear energy isn’t just about enabling crypto mining; it’s about securing energy sovereignty. Reliable power is essential for economic stability, innovation, and international partnerships. Eskom must act swiftly to solidify its roadmap agreement with Rosatom, fostering stronger ties with BRICS allies and ensuring sustainable energy solutions for generations to come.
By embracing SMRs and other nuclear options, South Africa could position itself as a leader in low-cost, clean energy while supporting the broader BRICS vision of economic independence and digital innovation.
