The task of using digital currencies in Iran’s foreign trade will be determined in two weeks

A member of the Iranian Trade Development Organization said the issue of using digital currencies in foreign trade would be resolved within two weeks. Meanwhile, the head of the government agency said in January last year that the use of digital currencies in foreign trade would be possible within three weeks.

According to Arzdigital and quoting the Club of Young Journalists, Reza Mosay, adviser to the head of the Organization for Trade Development, said:

The Chinese blockchain platform has not yet been established by the Trade Development Organization to use cryptocurrencies in exports and imports; But it will work in the next one to two weeks.

It has been about four months since Alireza Payman Pack, head of the Trade Development Organization, first mentioned the organization’s efforts to use cryptocurrencies in foreign trade; On January 16 last year, he announced on his Twitter account that according to the decision of the first meeting of the joint working group on currency between the Ministry of Silence and the Central Bank, in order to facilitate foreign trade, the mechanism for using cryptocurrencies in foreign trade should is being finalized.

Mr Payman Pack also said on 10 January 2014:

China-based blockchain systems based on different currencies can create a mechanism through which trading countries provide mutual guarantees, and cryptocurrencies can be a means of transferring credit from an exporter to an importer of goods. We are working on the mechanism of this system, of which the international part has been made, and within the next two weeks the connection of the Ramzarz system with systems such as the overall trading system will be defined and used.

The head of the Trade Development Organization also announced at a symposium of government officials with economic activists on February 11, 2014 that the organization was in talks with the central bank to replace China’s blockchain systems with LCs in foreign trade. According to him, the purpose of this plan is to circumvent sanctions; However, its mechanism and the obstacles that the Trade Development Organization may face in achieving this goal are still unclear.

The publication The task of using digital currencies in Iran’s foreign trade will be determined in two weeks. Appeared first on Digital Currency.

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