Cryptocurrency

28/01/19 08:47 UTC-4

Iran's national cryptocurrency to circumvent US sanctions

Iranian national cryptocurrency to circumvent US sanctions
Iranian national cryptocurrency to circumvent US sanctions

Iran is going to submit a state cryptocurrency to avoid US sanctions, as was reported by the CoinTelegraph news agency.

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On January 27, the local news portal Al Jazeera published a report on the Tehran conference on electronic payment systems, which states that the Iranian government is going to create a national cryptocurrency.

 

Iranian cryptocurrency – is it possible?

As is known, today Iran is facing new United States sanctions. The blocking of the country by American payment systems (starting from November last year) has led the Iranian government to use blockchains for leveling the effects of US financial restrictions.

The first reports of the state cryptocurrency appeared in the early summer of last year, when the US approved a package of sanctions against Iran. In November, when the sanctions tightened, Iran was disconnected from the interbank SWIFT system. According to members of the government, the national tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
is an effective financial tool to combat sanctions.

Yashar Rashedi, Iranian blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
developer, commented on the possibility of alternative cryptocurrency: "It (the coin) cannot exactly replace such assets as Bitcoin due to its centralized nature, but its existence is harmless (...) CBDC, that is, cryptocurrencies issued by central banks, will never be widely used in everyday life. However, they will be useful for startups (...) and developers whose tasks include working with banking systems API."

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The Iranian national cryptocurrency to circumvent US sanctions is the ability to support external economic relations in payment systems. Although many experts are very skeptical about the idea of ​​CBDC.

Editor: Yulia Krasnaya

See also: "Taiwan: $ 8 million crypto-fraud "

#Iran #USA #cryptocurrency #blockchain #CBDC #Tehranconference

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