I think many countries are getting into cryptocurrencies, but I am still yet to see any government coming out in public with their own, centralized cryptocurrency. The closet thing is Ripple being using by several banks to make their services more efficient and cost effective.
Anyways, these news solidify the idea that cryptocurrencies are here to stay and its a very, very long shot that they will cease to exist in the future.
Topic: Iran's Draft To Backed Cryprocurrency - page 2. (Read 417 times)
Great news. Besides the countries that prohibit cryptocurrency, many other countries are still developing strong cryptocurrency
Thanks for sharing. Well I think this approach will bring people especially of Iran more close to crypto currencies and they will get to know the value of it also.
I appreciate that they are taking steps to eliminate the existing uncertainty that has been going around crypto currencies of Iran for a quite long time. Let’s see what happens.
I still don't understand, cryptocurrency issued and managed by the state will become centralized? If it was like that, is it worthy of being paired with bitcoin or altcoin?
Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
Iran is a country where cryptocurrency trading is banned by their Central Bank so the news is not what you are expecting here. Cryptos are decentralized by nature without any central authority to control them. In this case, Iran will just be launching a centralized digital currency system, which I won't categorize as a "cryptocurrency". It is a centralized currency with a controlling authority and backed up by a physical asset. I don't see any characteristics of crypto currency here!
Someone already pointed out that it is an attempt to bypass the US sanction ban and that's true! Don't get excited about this news!
I doubt the credibility of this news, as the Islamic Bank of the Republic of Iran banned any deal with cryptocurrencies.[1]
The report mentioned names like the Iranian president and Saeed Mahdiyoun[2], I have looked for the second name and found no connection to the Iranian government.
Also, dealing with these currencies will not benefit the state as the qualities of selling oil and others require a lot of money that can not be converted using cryptos without a note.
[1] Islamic Bank of the Republic of Iran ban crypto
[2] Google search for Saeed Mahdiyoun
The report mentioned names like the Iranian president and Saeed Mahdiyoun[2], I have looked for the second name and found no connection to the Iranian government.
Also, dealing with these currencies will not benefit the state as the qualities of selling oil and others require a lot of money that can not be converted using cryptos without a note.
[1] Islamic Bank of the Republic of Iran ban crypto
[2] Google search for Saeed Mahdiyoun
Not only is it a good news for the crypto market, but it is a good news for the people and for BTC too. It is being seen that the countries that were initially reluctant about the crypto market are now being very open about it and are accepting it. The market is indeed getting more popular day by day.
Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.
That's one way to bypass international sanctions, though as the Venezuelan Petro has shown, simply creating a cryptocurrency is not enough to convince people of its value. It needs to have built-in scarcity and to be widely adopted by the masses to succeed.
How does it enable bypassing sanctions? If a token is backed by the Iranian state, it will be treated just like the Iranian rial with regard to sanctions enforcement.
Some people argue that using a decentralized currency (like Bitcoin) would make sanctions enforcement harder. That might be true, as the banking system is avoided entirely. But I'm not sure how the mechanics of sanction enforcement works, and to what extent it's really true.
The market of crypto currency is getting accepted by different countries now a day. Many countries have started to understand the importance of bitcoin as well as the market of crypto currency. This news also indicates that bitcoin is on the way of becoming wholly accepted in the world.
Cryptocurrencies are irrelevant for countries with unstable governments and economies, they won't be the magic bullet that makes everything alright! In fact, the central bank of Iran has already banned cryptocurrencies, so in reality, they're only trying to create a cryptocurrency that their authoritarian government can completely control, probably not something that the people actually want.
This is really amazing news for the market of crypto currency as well as the bitcoin .Different countries which are against of crypt currency are now accepting the crypto currency and this proves that the market crypto currency will be more popular day by day.
Iranians are good to go with Cryprocurrency big time.
creating a centralized altcoin by the government is not the same as being "good to go with cryptocurrency"! hopefully this can bring more awareness about bitcoin and increase adoption of it but that would be an indirect effect.
That's one way to bypass international sanctions,
but how would that work?! the form of currency changes not the source. in other words if a country is under sanctions and can't make trades with another country it doesn't matter what form of currency it uses it still can't trade. am i wrong? Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
That's one way to bypass international sanctions, though as the Venezuelan Petro has shown, simply creating a cryptocurrency is not enough to convince people of its value. It needs to have built-in scarcity and to be widely adopted by the masses to succeed.
Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto
Iranians are good to go with Cryprocurrency big time.
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