World Rugby vice-president Agustín Pichot has proposed replacing Test tours with a Nations League that will kick off in November 2020.
From 2020, the annual Nations League would involve the top 12 teams, according to the World Rugby rankings. They would be divided into four groups of three.
The competition would be played over five matchdays in November, with three rounds of pool matches followed by the semi-finals and final.
Each pool would be hosted by a different country, with the semi-finals and final being played at one venue, alternating between the northern and southern hemisphere each year.
World Rugby is holding meetings in Sydney this week to discuss several issues in the game.