Iranian Official Says Blockchain Will Drive Economic Growth

Going by the reports made by Tehran Times, an Iranian official, Alireza Daliri, has said that the solution suitable to boost the country’s economy is integrating Blockchain technology and Cryptocurrency.

Blockchain Technology To Boost Iran’s Economy, Says Official

The official who is the Vice Presidency for Science and Technology’s Deputy for Management Development and Resources has said that through Blockchain technology Iran will have a platform that will enable it to liaise with her global partners. He also pointed out to the fact that various other countries, numbering over a hundred, across the globe were already taking advantage of the various applications coming with Blockchain technology and Cryptocurrency.

Albeit recognizing the speculations by other countries that have registered their concerns about the risks of integrating Blockchain technology into their systems, Alireza Daliri registered his belief that the positives coming with the technology outnumber any risks associated with them. He also added that as a department they were researching how they could use Blockchain technology in the development of the various sectors of the nation’s economy.

In the report, the official is quoted as saying that this would be possible through the empowerment of the infrastructure surrounding Blockchain technology and with the help of the ruling government as well as the private sector.

Iran Looking Into A National Digital Currency

In his statements on how applying Blockchain technology will boost Iran’s economy, Daliri noted that Blockchain technology promised growth through technology which is also its most notable selling point. He added that this tech-based growth was something that every country would require reiterating that the help of the government and the private sector would be very important in empowering Blockchain technology infrastructure.

To this end, Daliri noted that Iran would have to liaise with other countries in order for her to be in a position where it could utilize some of the emerging technologies around the world, including Blockchain technology.

Daliri’s statements and views on Cryptocurrency and its underlying technology have become more public this year, beginning earlier on in the year when he made the announcement that the nation’s ruling government had already started looking into Blockchain technology. At the time, the official stated that the government was in the process of creating a national virtual currency in the nation.

He said that the virtual currency would be a tokenization of the Rail and serve as its backing. He said that the national digital currency would provide a way for the financial institutions in the country to conduct business and transact with other international partners. He added that it would also be a way of circumventing economic sanctions imposed by the United States.

The Rail is the nation’s national fiat currency.

Iran To Circumvent Sanctions Through Crypto

Even major Crypto exchanges like Binance have taken the decision to remove users from the country from their platforms as a result of the sanctions imposed on Iran by the US. This has been seen as efforts to comply with the penalties that are in place as well as efforts to remain in good standing with the United States government.