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Iran Plans to Use Blockchain To Improve the Economy

Blockchain seems to be growing in Iran especially since it faced pressure from SWIFT. The country is said to be working on developing its own cryptocurrency and appears to be very interested in the blockchain technology.

What the Country Has to Say

Alireza Daliri, one of the country’s top officials, recently spoke very positively about the technology and its potential impact on the economy.

He said: “This is possible with empowering the infrastructure of the blockchain technology with the help of government and the private sector.

Currently serving as the head of management development department of the vice presidency for science and technology, he seems to be pro-blockchain. He spoke to a local news agency about the impact of blockchain and also highlighted the need to coordinate with other countries on this developing technology.

Why This Sudden Need

Many find this pro-blockchain thinking to be a little strange especially since there is significant opposition within the country. Daliri, however, played down on the risks and praised the benefits of the technology.

He spoke about the technology’s many benefits and the plan to use it in different industries. Experts believe this sudden change is due to the sanctions that have been put on Iran by various countries that now are forcing the state to find other solutions.

Many exchanges have kicked out Iranian users. However, the country seems to be attracting miners due to its low-cost electricity. Many international organisations have also shown interest in moving to Iran for this reasons, but the sanctions may have an impact on these plans.

The government has not spoken about how it intends to use blockchain in the future, but there’s hope that blockchain will help its struggling economy.

The country is in the midst of a technological revolution, but we’re not so sure on where it’s heading to. Things will get more evident once the state launches its own digital currency early next year.

Michael Wight

Michael is a freelance writer with special interest in finance and technology. He regularly trades cryptocurrencies and loves to share his knowledge with others.

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