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Author Topic: Here is how Iran plans to use cryptocurrencies to evade economic sanctions  (Read 304 times)
Arkann
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April 24, 2020, 10:14:38 AM
 #21

I don't think there is a country that can ban cryptocurrency trading. Because the core technology of cryptocurrencies is blockchain technology. This is extremely high security technology and transparency. You can look up the transaction history of cryptocurrency exchanges but you don't know where the sender and the receiver are from and in which country. Transactions through BTC are many underground organizations dealing with each other without worrying about being discovered by others.
the fact is that in any case, the blockchain will have a very good future and this technology does not need to be considered only in the context of bitcoin and other cryptocurrencies.  Blockchain as an innovative technology has attracted a lot of companies from different spheres of human life and the potential of this technology will be enough for various industries.  Based on this, no government can oppose the use of blockchain around the world, and cryptocurrency as an additional part of the blockchain makes using blockchain technology more convenient and profitable.  I’m sure that even those strange like the United States will not be able or even will not want to harm a business that provides very good incomes.
so98nn
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April 24, 2020, 11:23:01 AM
 #22

Do you think that Cryptocurrency could be a solution to the economic sanctions imposed on Iran?

Again, a lot of people don't understand how sanctions work.
The US is not stopping the money flow, the US is stopping the people that want to deal with Iran of conducting business.

If someone wants to deal with Iran, they are free to do it, if a bank wants to deal with Iran they can do wire transfers for Iranian companies, the problem is that once they do that they can kiss goodbye to any other business in the western world.
That's why China keeps on buying oil and sells the stuff because they do it through companies that have no other business relations in other countries.

Just because you pay something secretly with bitcoin doesn't mean that they will want to deal with you in the first place, they could have paid in gold, oil silver or sheep, their problem is that nobody wants to sell or buy stuff from them as long as the sanctions are in place.


Interesting one. There are anyway many challenges on controlling each and every business transaction that is made with Iran or Other countries. For example, if it is pharmaceutical vaccines or may be world bank investing into Iranian pharma companies whose origin is actually in Western World then they can do so and their business doesnt get hampered into western world.

It's clear thought that, its emergency product and no matter how much both world hates each other they will have some restrictions with such kind of transaction.

Well, if so then this could be the transaction done for emergency services.
sheenshane
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April 24, 2020, 01:12:52 PM
 #23

US sanction to Iran is somehow like a punishment that trading with then is restricted. Though cryptocurrency is decentralized it may not be the solution for this sanction because it is other countries' discretion if they will trade to them and face consequences as the US posted this economic sanction. It's still not the cryptocurrency that will save their economy.

Yes, they can use crypto but this isn't the solution to solve their economy from crisis.

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Leviathan.007
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April 25, 2020, 11:39:07 AM
 #24

It's not real as well as I know and after searching on the news about Iran I saw none saying this.
But, generally yes. One big use of the crypto currencies is for the governments to evade sanctions and ofc sometimes use it for dirty stuff like sell/buy guns. Fir example Iran can use them order to sell missiles to another country/group

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