​​Iran is about to release its national cryptocurrency

​​Iran is about to release its national cryptocurrency


Iran could become the second country in the world to use the national cryptocurrency to bypass the US sanctions. The project involves the Central Bank of Iran (CBI), the Office of Scientific and Technological Issues Office of the country’s President.

According to the employee of the Office Alireza Daliri, the national digital currency will be used in foreign trade in conditions when the US introduces a ban on Iran’s use of the dollar for international payments.

Earlier, the Minister of Information and Communication Technologies of Iran, Mohammad-Javad Azari Jahromi, announced that the country had developed a national cryptocurrency based on blockchain technology, which will be tested by the banking system within 3 months. It can be used to support the national currency, and then applied as a token for transactions between commercial banks.

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