Bitcoin Sanctions

How can Bitcoin lessen the effect of sanctions through tourism?

Soraya Nildarar
Written by Soraya Nildarar

Can Bitcoin be an antidote for the sanctions, pressing Iran’s economy?

As written by Donya-ye-eqtesad, it is not possible for foreign tourists to use their credit cards or transfer cash funds in Iran. Therefore, Experts believe the tourism industry can benefit from digital currencies in several ways.

The growing use of digital currencies in travel agencies, resort and recreational complexes, healthcare centers, souvenir shops and tourism infrastructures can create new opportunities for the country; such as facilitating the payment of travel expenses or transferring funds.

In this regard, Hassan Ansari has announced the activation of a digital currency payment gateway in the sales system of tourist centers, hotels, and travel companies in near future. According to the head of Iran’s e-tourism community board of directors, digital currencies have come to aid the tourism market around the world.

Digital currencies have grown to support tourism around the world. However, this idea has been employed only in some tourist destinations such as Japan and Taiwan.

Ebrahim PourFaraj says that successful trades through bitcoin and cryptocurrencies can be a source for funding and supporting financial relations in the tourism industry.

The tourist business in Iran has already dealt with pressing difficulties regarding money conversion and supporting financial exchanges. By developing the possibility to use digital currencies as a medium of exchange in the tourist section, foreign tourists will no longer be required to carry cash, and owners of businesses operating in the country’s tourism industry will be far less troubled to transfer their financial resources.

Experts believe that using digital currencies in the tourism industry can be helpful for Iran’s current economic status since the country can gain more revenue through this section using cryptocurrencies.

About the author

Soraya Nildarar

Soraya Nildarar

Leave a Comment