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Author Topic: Iranian launching Crypto Rial  (Read 230 times)
adzino
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September 24, 2022, 04:12:57 AM
 #21

Iran is planning to aunch Crypto Rial for across boarder transaction

The central bank of Iran sponsor a bill that, they are to launch crypto rial pilot in the country to test run their economy. But they are using stablecoin.

The Central Bank of Iran
-snip-

That will be nice. That is cryptocurrency mostly bitcoin is gaining ground in the space.

So a digital currency that is almost the same as CBDC. Well that would just be another stable coin that uses blockchain to facilitate transactions. Nothing new here. Just another centralized currency that the government will use to control the funds and money of their citizens.

That will be nice. That is cryptocurrency mostly bitcoin is gaining ground in the space.
In what sense is that going to be nice? We already have stable coins. I doubt it will cause any effect on the price of bitcoin.

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September 24, 2022, 04:56:48 AM
 #22

Iran is getting screwed by the US sanctions and their people thanks to the recent hijab controversy which is why it makes sense why they are thinking about launching their own CBDC basically.

Anyone with a half-decent brain would immediately realise the fact that this is a coin meant for their government(Not their people) similar to other centralised cryptocurrencies.

Personally, I would never use this particular cryptocurrency since I find it hard to trust a crypto which relies on such a trash government.

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September 24, 2022, 05:01:01 AM
 #23

Is the type that will be launched by Iran different from the CBDC? this means iran prefers to create stablecoins for their country's currency rather than CBDC. like that?

If you think about it, it really isn't that any different. CBDCs are centralized, and at the same time most stablecoins are centralized as well anyway. Even stablecoins can be frozen even if you're using a non-custodial wallet. https://bitcointalk.org/index.php?topic=5204055.0
This is what I have been supporting as well, people are seeing what they are seeing as a way of making money from stablecoins that are controlled by companies, but when it comes down to stablecoins made by governments they are not really attracted to it at all.

I have to say I will stay away from both of them as much as I could, there is no need to invest into something that is centralized and it doesn't make any sense at all. But at the end of the day if we are talking about picking or choosing one of them than it means I am going to end up with government managed ones because they are still more trustworthy than some random company that created some coin.

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September 24, 2022, 09:25:50 AM
 #24

Technologically, of course, an interesting project. But there are a few caveats...
First: the purpose of this project is clearly not the promotion of promising technologies to the masses, but an attempt to avoid sanctions.
But there is a nuance - in the United States, a group has been created, called the “Digital Asset Coordinators Network”, which will be led by the National Cryptocurrency Enforcement Group (NCET) of the Department of Justice. There is an assumption that this group will deal with just such solutions.

And the second is whether this project will be implemented, given its purpose, and the current situation in Iran itself. Today there was information that in the capital of Iran, Tehran, the Khomeini regime fell and the capital was liberated.
This is a desperate move for Iranian government to escape such sanctions and yes, the US government is tightening their regulations when it comes to cryptocurrency and they will hire thousands of employees to combat this crypto fraud and probably to address this issues as well. The situation in Iran is getting worse, having their own centralized cryptocurrency might not help that much, this might force other countries to impose another sanctions against them.


Such decisions are more like self-deception. Well, at least a means for "calming the masses" that "everything will be fine with us" ... But it will not be either calm or good for the current ruler.
I never understood why, instead of making normal decisions and creating a normal life for their citizens, some rulers try to do extremely idiotic things, drive their population into the Stone Age and then "heroically fight" with the whole world and deny reality!?
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September 24, 2022, 10:18:43 AM
Last edit: September 24, 2022, 02:31:09 PM by Vinaa77
Merited by fillippone (2)
 #25

Iran is planning to aunch Crypto Rial for across boarder transaction

The central bank of Iran sponsor a bill that, they are to launch crypto rial pilot in the country to test run their economy. But they are using stablecoin.

The Central Bank of Iran

That will be nice. That is cryptocurrency mostly bitcoin is gaining ground in the space.


I see one by one country starting to accept crypto as a currency to make transactions in that country. Most are tested by private companies. If the use can run normally, of course the bank under the authority of the government will use crypto especially stable coins. If Iran's central bank planning can run normally, then the next practice will be carried out by other countries in the world.

I see one by one country starting to accept crypto as a currency to make transactions in that country. Most are tested by private companies. If the use can run normally, of course the bank under the authority of the government will use crypto especially stable coins. If Iran's central bank planning can run normally, then the next practice will be carried out by other countries in the world.

This provides a great opportunity for all of us who are one step faster to get to know crypto. Of course with conditions like this, Bitcoin and other crypto transactions will increase.
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September 24, 2022, 11:03:14 AM
 #26

It is not a  cryptocurrency, but a digital currency, which means that it is a central currency that is completely controlled by the Central Bank of Iran and therefore is completely in the hands of the government. Most governments seek to launch their own central digital currency because this increases the government’s control over all financial transactions in the country, this is completely different from Bitcoin and Decentralized cryptocurrencies which is outside the control of the government.

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September 24, 2022, 04:38:41 PM
 #27

Iran is planning to aunch Crypto Rial for across boarder transaction

The central bank of Iran sponsor a bill that, they are to launch crypto rial pilot in the country to test run their economy. But they are using stablecoin.

The Central Bank of Iran
-snip-

That will be nice. That is cryptocurrency mostly bitcoin is gaining ground in the space.
So a digital currency that is almost the same as CBDC. Well that would just be another stable coin that uses blockchain to facilitate transactions. Nothing new here. Just another centralized currency that the government will use to control the funds and money of their citizens.
The difference is that we are not talking about a fiat currency that the whole world could use, helped with a digital currency that could get you some.

Normally you could buy dollars anywhere in the world, it's the most used foreign currency for any nation, and instead of that, we are going to have a nation which has been sanctioned off for many decades now, and that means we are going to have the digital version of it where I could finally get my hands on. Not that I would, because I have no reason and I dislike all fiats, there isn't a single one I like, but I used to not have the chance to do it if I wanted to, now with this new digital one, I could if I want to.

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September 24, 2022, 04:56:58 PM
 #28

Okay so similar thing to what FED thinking, what India thinking, what Russia, El Salvador, Africa and the non ending list where they want to launch their own crypto currencies so that they can take the bitcoin down and ask peeps to invest in the Government Controlled Crypto. I have started to feel like they are all interconnected back on the stage and now slowly step by step they are asking random countries to spread the news about their own crypto launch. Lolz. So sooner or later every country will have their own crypto currency and bitcoin would be off the grid. Ahh, I’m kidding but it’s nothing much, anyways Congo to Iran.

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September 24, 2022, 09:07:00 PM
 #29

Not bad for a country adopting blockchain technology. But it would've been better if the Iranian government will back bitcoin too and legally accept it as a currency.

Are we expecting more CBDCs from many countries and faster than countries considering bitcoin as a legal tender? Many countries already have plans to launch their own CBDCs. Somehow I am expecting two to three more countries in a year or two to follow El Salvador and the Central African Republic in legalizing bitcoin as a currency.


I doubt they have any plans to do something like that, governments are very conservative by nature and they will not adapt to the changes in their societies unless they are basically forced to do it, and about the issues of legal tender personally I think this will take more time, both El Salvador and the CAR are both way ahead of the game so I do not expect any other country to follow on their footsteps, as they will remain on the fence and see how things evolve in both of those two countries.

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███▀    █████████████    ▀███
██       ███████████       ██
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▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
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..PLAY NOW..
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