10 months ago

The Department of Science and Technology under the Iranian government plans to issue a national cryptocurrency. According to CoinDesk, the project will be implemented in cooperation with the central bank of the country. It will be a response to US sanctions that will enter into force next month.

According to the deputy head of investment affairs Alireza Daliri, the tokenized analog of the Iranian rial will help strengthen the national currency, stimulate the growth of domestic and external payments, and, in general, help the country circumvent US sanctions.

Also, during the next three months the department plans to integrate blockchain technologies into the central bank. In this case, the internal cryptocurrency will be used primarily for transactions with local commercial banks.