[2017-11-04] Iranian Government Plans New Infrastructure for Bitcoin Users

[Beef Coin]

In positive news for Bitcoin users, the Iranian government plans to implement a new infrastructure for Bitcoin users in Iran.

Tensions between Iran and the US

Bitcoin is known to start with countries in the west and as the tension rise between Iran and the US, the former is strategizing to incorporate Bitcoin into its system. Iran and the US currently have a problem in their relationship as Donald Trump called the deal with Iran as “the worst deal ever.”

The Islamic republic is still suffering from international sanctions that affect several of its economic sectors, including finance, energy and the shipping industry. International sanctions have also hindered Iranian citizens’ ability to use online payment platforms like PayPal, Venmo and Braintree.

With the sanction, the Iranian government has come up with a way to go around and that is through the implementation of Bitcoin as the main form of online payment. One of the advantages of Bitcoin is the fact that it is a decentralized currency which cannot be controlled by a central identity like a corporation or government; thus countries are not able to sanction payments.

With Bitcoin, Iranian citizen could easily bypass economic sanctions and be able to conduct international trades.

Bitcoin Infrastructure for Iran

The acknowledgment of Bitcoin to Iran’s economy is a huge milestone for cryptocurrencies. This means that the government can now open their doors for advancement in terms of payment and currency.

According to reports, the Iranian government has already researched Bitcoin and its possible benefits for its economy.

Amir Hossein Davaee, Iran’s Deputy Minister of Information and Communication Technology. shares:

“The ministry of communications and information technology has already conducted a number of research studies as part of efforts to prepare the infrastructure to use Bitcoin inside the country.”

Moreover, Davaee added that Bitcoin activities include money creation, so the Central Bank of Iran needs to set the ground rules and supervise related activities, otherwise, this would disrupt the economic cycle. Iran is now on the edge of creating a proper infrastructure not only for Bitcoin but also for other cryptocurrencies.

Once this project is finished, they will be properly integrated and regulated. After the economy of Iran greatly suffered from sanctions, experts believe that Bitcoin and other digital currencies will greatly help Iran’s economy to get back on track.

Source: https://cointelegraph.com/news/iranian-government-plans-new-infrastructure-for-bitcoin-users

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[ettessuta]

they now try to Support Terrorism through Bitcoin this is bad news

[buwaytress]

I would be curious to know what they really mean by needing new infrastructure for Bitcoin users. All they need is Internet... which they generally have access to. In fact, all the current firewalls the Iranian government has put up have so far avoided treading into Bitcoin territory (ie node blocking, explorer access) so I wonder if there's something else meant that's lost in translation. Even Localbitcoins has a very decent market of traders doing daily business, so it's pretty clear that there's already demand and trade is facilitated well by their banks.

they now try to Support Terrorism through Bitcoin this is bad news

Really, now?

[Madeoffire]

Now that's the way you do it. You allow innovations to flow ! Not to put stupid regulations - they are making people more and more to use bitcoin actually. You can't stop it, but you can build a platform that is good for the actors - banks, government and most importantly - PEOPLE

[Lieldoryn]

For Iran indeed bitcoin is a very convenient means to circumvent the us sanctions. But at the state level will not succeed. Bitcoin will only help ordinary citizens and small portions. Ultimately, terrorism is a consequence of poverty. If everybody was rich then nobody will recruit terrorists.

[Mark Promo]

Some believe that in this way Iran wants to circumvent US sanctions. Is it true, do you think?

[Saftention]

this is not important news because bitcoin only help persons not government so  Iran movement is good and may give small effect of bitcoin

[senin]

I think that this news is generally good. In this way, Iran will give its citizens the opportunity to fully use the crypto currency. Even if at the same time the Iranian government will bypass international sanctions. Creation of infrastructure for the use of crypto currency is very important for the practical implementation of bitcoins and other crypto currency in the lives of citizens. This means the direct use of crypto currency for payment for goods and services, without transferring it to fiat.

[aliahmed131991]

We all know that in 2012, global payments rail SWIFT effectively removed Iran from its network of global banks, as a result disconnecting Iran’s banking system from global commerce. Although Iran’s banks were finally reconnected to SWIFT later after sanctions imposed on Tehran were lifted in January 2016 but in light of such circumstances it is really a tremendous and bold decision by Iranian government. Whatever there motives are at least they have committed to enhance adoption of cryptocurrency unlike many other countries in the same region which are light years away from cryptocurrency concept. 

[trickyriky]

When I had been working as a dispatcher in loads road carrying there is only ready cash that was in use in Iran. Not any bank transfers. Of course cryptocurrency cannot become full replacement for bank financial infrastructure nowadays.

But for ordinary citizens it may be useful!