Skip to content

Iranian government plans new infrastructure for bitcoin users

--Advertisements --

The Iranian government plans to set up a new infrastructure for Bitcoin users in Iran, a positive news for users of Bitcoin Bitcoin.

Tensions between Iran and the US

Bitcoin is known to begin with the western countries and as tension increases between Iran and the United States. United States, the first is developing strategies to incorporate Bitcoin into its system. Iran and the United States currently have a problem in their relations because Donald Trump has called the deal with Iran "the worst contract ever".

The Islamic Republic still suffers from international sanctions that affect many of its economic sectors, including finance, energy, and the maritime industry. International sanctions have also hindered the ability of Iranian citizens to use online payment platforms such as PayPal, Venmo and Braintree.

With the sanction, the Iranian government has found a way around the problem and it is thanks to Bitcoin as the main form of online payment. One of the benefits of Bitcoin is the fact that it is a decentralized currency that can not be controlled by a central identity such as a corporation or a government;

With Bitcoin, an Iranian citizen could easily bypass economic sanctions and be able to conduct international transactions.

Bitcoin Infrastructure for Iran

Bitcoin recognition to the economy of Iran is an important step for cryptocurrencies. This means that the government can now open its doors for progress in terms of payment and currency.

-- Advertisements --

According to reports, the Iranian government has already studied Bitcoin and its possible benefits for its economy.

See also  Why is the cryptocurrency market so volatile?

Amir Hossein Davaee, Iran's Deputy Minister of Information and Communication Technologies. part:

"The Ministry of Communications and Information Technology has already conducted a number of studies as part of efforts to prepare the infrastructure for use Bitcoin in the country. "

In addition, Davaee added that Bitcoin activities include the creation of currency, so that the Central Bank of Iran must set the ground rules and supervise related activities, otherwise, it would disrupt the business cycle. Iran is now on the verge of creating an adequate infrastructure not only for Bitcoin but also for other cryptocurrencies.

Once this project is completed, they will be properly integrated and regulated. After the Iranian economy has suffered a lot of sanctions, experts believe that Bitcoin and other digital currencies will greatly help the Iranian economy get back on track.

-- Advertisements --
Advertisements