This thesis examines the efforts of the BRICS bloc Brazil, Russia, India, China, and South Africa to reduce reliance on the U.S. dollar and establish a multipolar financial system. While de-dollarization is motivated by aspirations for financial sovereignty, geopolitical resistance, and regional economic integration, this extended position paper argues that BRICS lacks the structural, political, and financial capacity to challenge the dollar’s dominance effectively. The study evaluates key BRICS initiatives, including the New Development Bank, local currency trade agreements, and digital payment systems, with particular attention to the leadership roles of China and Russia. This paper analyzes the enduring strengths of the U.S. dollar, such as its liquidity, reserve currency status, the petrodollar system, and network effects rooted in path dependency by drawing on scholarly literature and institutional data. It concludes that although regional de-dollarization is feasible in limited contexts, BRICS lacks the institutional cohesion and economic resilience required to construct a credible global alternative. This paper contributes to the literature by critically synthesizing BRICS strategies and identifying future empirical research areas, particularly in cross-border digital currency systems and intra-BRICS financial integration.