Iran's Draft To Backed Cryprocurrency

[pooya87]

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They would have immensely more power in a cashless society operated on a state-controlled blockchain. Banks are mainly private enterprises (with exception to central banks), they are not controlled by the state, at least not in the country I'm in, the US, so I can't speak for other places. With a state cryptocurrency, your bank account would be controlled by the government, not by a company. Vast differences there. In a cashless society, the government can lock you out of the economy. No ifs, ands or buts about it. You will have no way to do anything financially. This state actor could make their own notes and physical coins no longer legal tender, and enforce the use of their own coin.

right now they can lock anybody out if they wanted to. it just needs a court order to seize a person's assets, close his bank accounts, ... even in US. it is happening every day. they don't need a centralized blockchain and a FedCoin to do it.
for example "An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property. https://www.irs.gov/levy

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all this other discussion part is based on the assumption that if they create a FedCoin then they will ban usage of bitcoin. which is another discussion about whether they will or won't. i'd say they "might" and if they don't then there is no restrictions. but if they do ban it then you are correct.

[Ozero]

Crypto currency has recently been resolved by Islam, so the attitude towards it has changed. Countries that preach Islam convert to using crypto currency. Iran's release of its own centralized crypto currency is, one of the forms of such a transition. This is not yet the adoption of a decentralized crypto currency, but so far this is also good. While citizens can gradually learn the crypto currency, seeing that the state itself goes to its use.

[zanezane]

Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.

https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto

Iranians are good to go with Cryprocurrency big time.

That's great but no large exchange will touch it and who would trade their bitcoins for a shitcoin that's backed by the likes of Iran.

There will be no large exchange but the Iranian government will be, they will surely manipulate all these things just to make their coin survive. Definitely a buy back method from its investors.

I believe fedcoin is just suitable for countries that have hyperinflation like Venezuela but with other countries that doing good there's no way, it should be just bitcoin.

[BitcoinNewbie15]

~
They would have immensely more power in a cashless society operated on a state-controlled blockchain. Banks are mainly private enterprises (with exception to central banks), they are not controlled by the state, at least not in the country I'm in, the US, so I can't speak for other places. With a state cryptocurrency, your bank account would be controlled by the government, not by a company. Vast differences there. In a cashless society, the government can lock you out of the economy. No ifs, ands or buts about it. You will have no way to do anything financially. This state actor could make their own notes and physical coins no longer legal tender, and enforce the use of their own coin.

right now they can lock anybody out if they wanted to. it just needs a court order to seize a person's assets, close his bank accounts, ... even in US. it is happening every day. they don't need a centralized blockchain and a FedCoin to do it.
for example "An IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seize and sell your vehicle(s), real estate and other personal property. https://www.irs.gov/levy

But the IRS seizing assets, closing bank accounts, and garnishing wages are fundamentally different than what I am talking about. These individuals can still transact with cash if they choose, or open up a bank account with a community credit union or some other private bank. They still have the option of working under the table and earning money in the physical form. When I say completely locked out of the financial world, I mean not being able to buy anything or hold any money. Being permanently unable to make a purchase. Permanently unable to earn money. This is a reality in a digital, cashless society. And a successful centralized fedcoin means this cashless society is inevitable, as there will come a time when cash is no longer legal tender, and complete totalitarian control reigns power over the people. Andreas A. is concerned about the very same thing and feels the same way.

[aioc]

Iran’s National Cyberspace Center reveals the draft of the state-backed cryptocurrency project is ready, local news outlet reports.

https://cryptopanic.com/news/2969689/Iran-State-Backed-Crypto-Draft-is-Ready-Central-Bank-to-Soon-Announce-Stance-on-Crypto

Iranians are good to go with Cryprocurrency big time.

I did not know that Iranian are into cryptocurrency because they are strict like the other arab countries, but it's a welcome development, if the Iranian government the other countries also can the only other Arab countries can too, this is the reason why I joined the Arab dedicated exchange, they will have a great contribution in the industry.

[yitzjoe]

Iran is a developed country that is very brave to make wise decisions for its country even though it is against many countries of the world. This is a step forward that many countries can do when Iran is successful with Crypto including my country

[Ava Duvall]

Not only is it a good news for the crypto market, but it is a good news for the people and for BTC too. It is being seen that the countries that were initially reluctant about the crypto market are now being very open about it and are accepting it. The market is indeed getting more popular day by day.

YesĄ We are taking it one day at a time, and this is a big step forward! im glad more and more countries are becoming open and aware of bitcoin and cryptocurrencies in general.

[vit05]

 Another ShitbakedbyDictadorsCoin. Anyone could easily build a digital coin. The power of Bitcoin is in the ability to be decentralized and controlled by the community. People are free to choose. A State that is controlled by few people would never be able to accept this idea. And if it is not decentralized it doesn't need to be a cryptocurrency. It could be a project controlled by a central server that will offer a stupid coin without fee and very fast.

[coinwizard_]

It's quite shocking that two countries rich in oil have economies are struggling and need to switch to crypto. Good for us because it shows bitcoin and the tech can be used legitimately and not just by underground activities.

[Kakmakr]

I doubt the credibility of this news, as the Islamic Bank of the Republic of Iran banned any deal with cryptocurrencies.[1]

The report mentioned names like the Iranian president and Saeed Mahdiyoun[2], I have looked for the second name and found no connection to the Iranian government.

Also, dealing with these currencies will not benefit the state as the qualities of selling oil and others require a lot of money that can not be converted using cryptos without a note.


[1] Islamic Bank of the Republic of Iran ban crypto
[2] Google search for Saeed Mahdiyoun

It would suit them if they banned other Crypto currencies.  They might even have banned it to pave the way for their own Crypto currency. We all know how these corrupt governments work, so it is no surprise if they banned it in advance. <You do not want any competition from any other Crypto currencies, if you are planning to develop and implement your own Crypto currency. 

GovCoins will also fail, just like Fiat currencies fail, because it is controlled and manipulated by these corrupt governments.

[Crypto Girl]

I just based my opinion on this article.

https://medium.com/@lina.network/iran-state-backed-crypto-draft-is-ready-central-bank-to-soon-announce-stance-on-crypto-4b0e9e840a38

In my POV, this is something that middle east needed. This will be a stepping stone for crypto currency as in this draft it will remove the uncertainties in cryptos but the catch here is they still banned using other cryptos. Though I can't argue about the authenticity of this as we don't know if there will be a hidden agenda beneath this. However the centralization issue will be a big talk for Iran.

[Macai]

That's good for them, it is really high time for Countries to absorb and immerse into crypto world. Other Countries must also study and consider in having digital money to help grow their economy in one way or another.

[joshuarose]

This is good news, now Iran has authorized the cryptocurrency, so I want to see it directly in Iran but there is a barrier that makes me unable to go there.

[Crypto Girl]

That's good for them, it is really high time for Countries to absorb and immerse into crypto world. Other Countries must also study and consider in having digital money to help grow their economy in one way or another.

I don't know but I'm having a second thought on having this because it just sounds to me more of corruption and manipulation thus more power for government. Like if they want to use digital currency then just use bitcoin which is fully decentralized than having our own version. It's more likely digging our own trap.

This is good news, now Iran has authorized the cryptocurrency, so I want to see it directly in Iran but there is a barrier that makes me unable to go there.

Nah, read the article about this before saying it's a good news.

[KryptoKai]

Energy is probably cheap in iran, just a guess as i don't live there. If they are successful with their crypto currency then they could bypass any sanction imposed by other countries. Oil would be readily available to any buyer