New technologies are a major theme of this year's BRICS summit, and the leaders of the world's largest emerging economies prepare to embark on what they're calling the 'Fourth Industrial Revolution.' How quickly their countries can adapt to a more digital economic future will be key to their success. Dan Ashby has been looking at some exciting changes in Russia.

When somebody mentions the digital future, you may feel like a dinosaur, but that digital future is coming right at us all. Russia's Eligo Vision uses cameras and screens to add virtual reality to normal life. From learning about the human body to improving Hollywood's red carpets. This kind of technology can help us understand and improve the world we really live in. And they say emerging economies must embrace it.

DR. SERGEY MATVEYEV CEO, ELIGO VISION "We are currently creating a digital space in which, perhaps, in the future, we will conduct business, educate children, create our own digital pieces of art anything. Either you do it, or somebody else does it for you, and it means you'll have to be using it. So on one of the key ideas crucial for BRICS is to create their own products, in new areas in which many western companies are working now."

And Russia is one country hoping to do just that.

DAN ASHBY MOSCOW "Traditionally Russia has been slow off the mark to seize the opportunities that digital economies present. It has been worried about the safety and security of digital money for instance, and only now is passing legislation that makes it clear how it can be used. But times are changing: its biggest bank is researching blockchain and start-ups are popping up around its capital city."

Companies like Alt.Estate in Moscow that helps people sell their houses in digital cash. They say the entry of Russia's biggest bank into the market is massive.

VLADIMIR SCHMIDT CEO, ALT. ESTATE "I think that's a huge news for the crypto market in general, because when the most expensive company in Russia announces that they're interested in developing blockchain technology - there could be a big impact on the market in general."

The potential of this technology is huge: But to benefit, BRICS countries will have to find a competitive edge and a market. If they do, who knows how our world will end up looking in 50 years time?

Dan Ashby, CGTN, Moscow.