Iran as the “ban Mu”, bitcoin took the opportunity to shine

Iran as the “ban Mu”, bitcoin took the opportunity to shine


In a national television interview, Iran’s central bank governor Valiola Sheff (ValiollahSeif) said, because the United States Donald Trump implemented a controversial temporary travel ban on some countries including Iran, Iran, the central bank decided to stop the flow of dollars in the territory of Iran.

According to the official statement of the Central Bank of Iran and Seif, Iran government intends to terminate the dollar in circulation in Iran, and decided to use those often used in foreign trade transactions and the stable value of currency to replace the dollar as a reserve currency, such as bitcoin.

At present, the Central Bank of Iran is on the two schemes: one is to choose a particular foreign currency, for example, is widely used in Iran foreign trade of the euro, or the establishment of a basket of currencies to allow the people of Iran, in economic activities, to choose their own love of money.

Although the relationship with the United States has been deadlocked, but the dollar in the Iranian oil industry trade plays an important role in the Iranian annual income of about $4 billion 100 million, and the abolition of the dollar as the currency of Iranian trade, may give the local economy and the government brought great trouble.

Bitcoin may take the opportunity to shine

Previously, because the United States sanctions that crippled the economy of Iran, the resulting black economy. With the 2011 Iran has been a new round of sanctions, leading Iran Riyal (IRR) depreciation. The following year, the Iran government in improving the price of luxury goods at the same time, the implementation of the three levels of the exchange rate, to stabilize the cost of imported commodities.

In this case, further gave birth to the black market speculation selling the currency. According to the UANI report, in 2011 December, a dollar on the black market to sell 13350 pieces of Iran (IRR), by January 2013, only a month’s time, up to $1 in 40 thousand Iran riyal.

International sanctions have caused foreign credit and debit card providers to stop providing services to Iran. Although Iran is home to a ATM network, but can only use local bank cards issued as the St.

Therefore, bitcoin may be a good choice. But in Iran, bitcoin trading market and infrastructure is relatively weak. According to the internetworldstats report, Iran has 57% of the population using the internet. Although the area has a large number of Internet users and people for the use of bitcoin transfers to overseas interest more and more shopping or online, but the area can provide convenience to the people in this way is very limited.

CoinAva online bitcoin market since 2013 has operations in Iran, Localbitcoins also entered the Iran market, P2P sales, hope to be able to provide a more reliable and safe alternatives. In August 2015, Iran’s first bitcoin exchange BTXCapital to launch.

White label bitcoin trading platform BTXCapital draglet, which provides instant deposit function for BTXCapital, real-time trading function and a fully customizable user interface.

BTXCapital said that the territory of Iran, more than 50 million Internet users in the next few years have the potential to become the world’s next major bitcoin market. CEO Ali BTXCapital Hossein (AliHosseini) said?:

The company’s goal is to provide timely and reliable service for users, but also provide a reasonable exchange rate according to the international standard. A feature of bitcoin is that its value is determined by market supply and demand, will not be affected by one or several exchanges. In our platform, users can according to their own valuation of the sale and purchase of bitcoin, we provide a safe and stable environment for the user’s transaction process. We believe that BTXCapital will be realized in Iran bitcoin market price transparency.”

The chief executive of Draglets GaneshJung stressed that people in Iran have made for bitcoin development efforts and struggle. In an interview, Jung said:

In Iran, people want to get bitcoin really difficult. Although there are some ways you can buy bitcoin, but the process is very complex, and the number is not great. Iran market potential can not be ignored, the higher the proportion of the total population of Internet users, means that the market development space is considerable. Our platform in Iran, bitcoin trading becomes a lot easier. As long as people use the local currency to recharge, you can trade.

With the Iran dollar limit as a trading currency, bitcoin because of its convenience and international may be in this opportunity to get rapid development.

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