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Digital currencies to neutralize banking sanctions

Parto Avazpour
Written by Parto Avazpour

Member of Iranian Economic Committee Ahmad Anaraki Mohammadi stated that blockchain and cryptocurrencies have numerous benefits in terms of evading sanctions and hostile pressures from the US government.

As a new technology, Blockchain is capable of being the solution to many problems and making a change in the country’s infrastructure and its outcome. Cryptocurrencies can be useful to bypass sanctions and facilitate economic relations.

Cryptocurrencies hold advantages, too. We may as well mitigate its disadvantages with the help of native economic and banking experts. Besides, we can use these benefits as an opportunity to improve the economic state.

Anaraki also pointed out the monetary and banking system’s change as a result of new technologies and said:

Expansion of new technologies has brought about global change. Cryptocurrencies are the new digital trend in the world. Today, using new applicable technologies to minimize the cost of economic and banking system is in the center of the world ’s attention.

As other countries move with the trend, we are supposed to view new potentials as well. So, creating a national cryptocurrency by the central bank and informatics services is referred to as an advantageous action.

The ministry of economic affairs and finance and the central bank are already considering regulations. Besides, the legislature has done researches and organized some meetings with numerous representatives in this field due to the importance of this technology at the time of the US government’s sanctions.

 

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Parto Avazpour

Parto Avazpour

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