IRAN TO LAUNCH ITS OWN CRYPTOCURRENCY, GOOD OR BAD FOR CRYPTO ADOPTION?

[davis196]

By the way,according to the recent news,Venezuela is printing paper money like crazy.The hyperinflaiton will continue,and the PETRO coin was a joke.Iran is heading to the same hyperinflation road,due to the embargo.A govcoin won`t allow them to bypass the embargo,just like the perto coin didn`t allow Venezuela to bypass the sactions and import goods using their shitty coin.Nobody will trust such gov coin and it`s value will be close to zero.It doesn`t matter if it`s backed by oil or not.

[RockBar0]

By the way,according to the recent news,Venezuela is printing paper money like crazy.The hyperinflaiton will continue,and the PETRO coin was a joke.Iran is heading to the same hyperinflation road,due to the embargo.A govcoin won`t allow them to bypass the embargo,just like the perto coin didn`t allow Venezuela to bypass the sactions and import goods using their shitty coin.Nobody will trust such gov coin and it`s value will be close to zero.It doesn`t matter if it`s backed by oil or not.

At present, the situation is very volatile market is difficult. But not every effort is stopped, they are trying to promote what they have to keep pace with the progress of the times. Hope for these difficulties, will soon. Let other countries also have conditions to participate and conditions for economic development. The goal is global economic exchanges with mankind.

[ufaiz50]

my opinion might be good because blockchain technology will be educated to some new people in the country, as always there will always be other opinions about this news, because as you know that Iran launches its own cryptocurrency as a form of boycott international sanctions.

[setialovers]

A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will  be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?

SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/

More country issuing their own cryptocurrency its good for cryptomarket. Peoples will have many option beside bitcoin and altcoin. If Iran Government release their own currency, its mean cryptocurrency regulated in Iran and I am believe it will followed by others country

[tosmartak]

We have seen the evolution and growth of ICOs for some months now and maybe it is time we started seeing a change as we start getting to see countries coming up with their own cryptocurrency. This might be the trend to be looking forward to in coming years.

I would not say it is a bad thing as this could bring about some transparency in a way but it all still depends on the government being ready to utilize it for the benefit of the country and not because they want to enrich themselves based on the fact that it would be centralized anyway. Otherwise, for very corruption ridden countries, it would not make any difference if that corruption is not dealt with.

[hugeblack]

I can’t confirm the authenticity of the news from an independent source, but I found a copy of the report here.[1]
The regime in Iran is a religious system, where the state adopts an approach to Islam called the Shiite doctrine.
I do not know about the rule of the Bitcoin in that doctrine, but the Islamic world so far does not officially accept it. [3]
Generally, if this news is correct, I do not expect it to have any effect because the transactions in cryptocurrencies need a trust that seems to be missing in the Iranian currency.
The positive point is the success of blockchain regime in attracting governments.

[1] Iran Considers Using Cryptocurrencies to Evade US Sanctions
[2] Iran Will Launch Its Own Cryptocurrency to Bust U.S. Sanctions
[3] Egypt's Dar al-Iftaa deems Bitcoin currency as forbidden in Islam

[so98nn]

A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will  be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?

SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/

I can understand a cause for caution. Although at face value it seems like a great news, and improves the adoption of bitcoin in different countries in general. But the main motive of these currencies in the end is to by pass unfavourable trade laws. The trade laws unfavourable for them, on the other hand might be profitable for other big countries and thus on one hand where cryptos would become a bail out instrument for crises stricken countries, other financially powerful countries might crackdown harder on them.

[StacksCity]

The implication it may have would lead to a more active involvement in crypto and blockchain from other government as well. As we are still at an extremely early stage for mass adoption, I'd personally consider this "Good" for the crypto adoption.

[horrifiedx1]

A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will  be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?

SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/

I can understand a cause for caution. Although at face value it seems like a great news, and improves the adoption of bitcoin in different countries in general. But the main motive of these currencies in the end is to by pass unfavourable trade laws. The trade laws unfavourable for them, on the other hand might be profitable for other big countries and thus on one hand where cryptos would become a bail out instrument for crises stricken countries, other financially powerful countries might crackdown harder on them.

I think that besides Iran there are some countries that make their own cryptocurrency for their country. but I think as long as it is still based on bitcoin, this is not a problem. but if not, then what you worry about can happen, because they are only looking for their own profit and do not heed bitcoin as the mother of cryptocurrency

[charlotte04]

A few months back, we had Venezuela launching its own cryptocurrency- The Petro, now we have some announcement than IRAN will  be doing same soon, 'Govcoin' as it will be called is meant to help the Iranian Government boycott international sanctions.It seem other countries with similar restriction will be exploring the blockchain to achieve similar goals.I have my reservations about government-issues cryptos, do you think this is healthy for the cryptocurrency in general?

SOURCE:https://news.bitcoin.com/the-iranian-government-is-preparing-to-launch-its-own-cryptocurrency/

Then why should it be bad for them to launch their own crypto? Is it not good enough that crypto is spreading all around the globe? We should be happy.

[patarfweefwee]

For one thing, i just hope that the execution of yhis coin would be good since this is one of the first govcoins today and they could set the pace and presidence on how the market will dictate the future govcoins. I also hope that it will become successful but honestly? Do we need a nee blockchain just for government use?