Iran Is Preparing for Digital Currency Adoption

While there are countries strongly against the use of digital currencies, others are preparing their infrastructures for a smooth adoption. An example of the latter approach is Iran, which, according to its Deputy Minister of Information and Communication Technology, is preparing for mass adoption of cryptocurrencies.

In a recent press statement, Amir Hossein Davaee noted:

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. . . . Arrangement are being made with the related organizations to put together the infrastructure as early as possible.

He went on to state that at this time, digital currencies have two main aspects, infrastructural and economic. Moreover, digital currency infrastructure is part of a country’s soft power, and therefore its entry in the market will benefit Iran.

Currently, we are not sure what Iran’s infrastructure consists of in regards to Bitcoin and the blockchain, but some experts believe that it entails positive regulation meant to ensure a smooth adoption, protecting both business and consumer interests.

Based on everything that has been outlined here, what do you personally think about Iran’s positive attitude toward digital currencies? Let us know your thoughts in the comment section below.

  • Is the PetroDollar being replaced by the PetroBitcoin ?…. Boy, that’ll value Bitcoin price to about $1,000,000 per coin rather quickly !!! 🙂

    • yeniceri

      It’s not petrobitcoin or petrocoin. It’s still bitcoin. If you need some fuel, check ethereum 🙂
      Countries who have issues with US dollar and FED will seek indeed a smooth adoption of cryptocurrencies eventually.