Bitcoin, Crypto currency, Blockchain

Iran: Not Bitcoin, but a national crypto-currency to fix it

Iran: Not Bitcoin, but a national crypto-currency to fix it

Home News Iran: Not Bitcoin, but a national crypto-currency to fix it

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Marcel Knobloch –
03.02.2019

The creation of a global digital currency used by all countries of our earth, is a scenario which many international experts will be critical. Iran is to bring the verge of its national digital currency on the market. Currently, intensive negotiations are being conducted.

Iran shows, according to a new report determined those that were his project for the creation of a national crypto-currency is complete, despite strong counter-pressure from the United States of America. The acting head of the Iranian organization for trade promotion (TPO), Mohammad-Reza Modoudi, led to the Tehran Times, that Iran will enter a new capital of the global trade (freely translated):

Iran begins a new Chapter in its international financial transactions in order to circumvent the US-led sanctions, and negotiated with eight countries on the use of the crypto-currency in its financial transactions.

The US and the EU had imposed on Iran, hard conditions, which apply as requirements if Iran wanted to operate trade with the economic giant. After Iran had fulfilled all the developments in the field of the nuclear energy industry, highlighted the EU fell by ions, only the United States maintained their rates. Modoudi describes eight major economies in the economic offer of Iran are interested in (freely translated):

Representatives from Switzerland, South Africa, France, England, Russia, Austria, Germany, and Bosnia have visited Iran to lead to related discussions on the topic.

The national crypto-currency should be the rate stable, and by the Iran Rial one-to-one be covered. For strategic reasons, is likely to be used in a private Blockchain, in the banks for part of nodes in the network be responsible to ensure the transparency of economic activity. The former use of Bitcoin to achieve the same goal, seems for now to be off the table. The existing financial system needs a new coat of paint (Freely translated):

In order to implement renovations and to create new infrastructure in our banking system, should the Back-End processes of banks, the change in paper shape and in the traditional way, and continue to be developed.

Seyed Aboutaleb Najafi, Chief Executive Officer of the Informatics Services Corporation (ISC), told the global acceptance of the “crypto-Rial” can be greatly by the Power of the United States, and the use of SWIFT eingedemmt (freely translated):

Crypto-currencies can help to avoid certain penalties due to non-traceable Bank transactions. Our main problem is the US Dollar, since the United States using their national currency, in order to control the SWIFT operations of a country. Therefore, we should reduce dependence on the Dollar and another currency to replace it.

It is very likely that the negative influence of the United States is reduced on the Iranian economy, if the talks of this country with the European Union.

So far, there is no precise schedule of when the crypto-Rial, in fact, spent.

Featured Image: Eblis | Shutterstock

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