Iran wants to test national cryptocurrency, Blockchain technology is considering the stock market-Finance

The Iranian Central Bank soon plans to start the pilot phase of its digital currency project, as an official unveiled. The Islamic Republic hopes to join a growing club of nations who want to benefit from having a sovereign coin, while it also tries to implement blockchain technology in other areas.

Iran begins with state -supported digital currency tests

The currency authority of Iran intends to do its digital central bank currency ( cbdc said, said one High -ranking representative of the financial supervision, quoted by the Iranian Labor News Agency (Ilna). The message has been coming in the fourth year since the project was first announced.

According to an explanation by Mehran Moharamian, deputy governor for IT at the Iranian Central Bank, the cbi sees a solution to dissolve certain inconsistencies and To decentralize resources. Other countries have already started to benefit from CBDCs, he stated.

Moharamian did not provide specific information about the start of the pilot phase. The authorities in Tehran commissioned the State's Informatics Corporation to develop a "national cryptocurrency" in 2018. The CBI branch operates the country's management and payment service network.

Later, the company explained that the Iranian digital currency with the Hyperledger Fabric platform, a blockchain framework implementation and one of Hyperledger's projects hosted by the Linux Foundation was designed.

Blockchain should revive the Iranian stock market

Although the Iranian crypto room remains largely unregulated-apart from that mining - Another report of this week indicated that officials were looking for various options to use the technology that is based on cryptocurrencies such as Bitcoin.

The Iranian capital market should seriously consider the use of blockchain technology, since it can help to satisfy some important needs of the stock market and to create new opportunities for its revival, commented Majid Eshqi, head of Iranian securities and stock exchange organization, recently. Quoted by Sena and the English -speaking business newspaper Financial Tribune, he stated:

In two years at the latest, we will be forced to use blockchain technology ... It will not be long before we start to tuck physical assets and shares that can be easily traded on the new platforms.

He added that it was time to check the potential of blockchain technologies to solve some existing problems such as the identity examination of shareholders and to initiate the infrastructure process.

In early January, Iranian media that Tehran is allowed to allow local companies, To use cryptocurrencies in international accounts with their partners abroad. The central bank and the government of the sanctioned country have reportedly given the green light for the introduction of a mechanism that facilitates payments with digital coins in the field of external trade.

Do you believe that Iran will continue to research opportunities to implement cryptocurrency and blockchain technology? Tell us in the comment area below.

lubomir Taskensev

lubomir Taskensev is a journalist from the technically experienced Eastern Europe, to the Hitchen's quote: "To be a writer is what I am and not what I do." In addition to crypto, blockchain and fintech, international politics and business are two other sources of inspiration.

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