Blockchain can improve the paralyzed economy


Department of Science and Technology of Iran: Blockchain can improve the paralyzed economy

The Department of Science and Technology of Iran calls for initiatives to promote the adoption of blockchains in an attempt to revive the country's deteriorating economy. The government agency also suggests collaborative efforts to develop blockchain-based infrastructures.

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Development of the DLT infrastructure

Second Tehran TimesAlireza Daliri, head of the management department of the vice president for science and technology, suggested that blockchain technology has the potential to improve the national economy:

"This [transforming the country’s economy] is possible with the enabling of the blockchain technology infrastructure with the help of [the] government and the private sector ".

He went on to say that both the public and private sectors should embrace the basic cryptocurrency technology. On the part of the government, the vice president of science and technology will implement blockchain technology between several government departments in the near future. Daliri said that such a move would eliminate the bureaucratic bureaucratic procedures that afflict government bodies.

Support the private sector and other government agencies

In addition, the department will support private companies that actively interact with DLP (distributed ledger technology).

Beyond that, Daliri urged Iran to work with other nations to develop a strong blockchain infrastructure. Daliri has claimed that blockchain technology has been beneficial and beneficial for over 140 countries around the world.

In seeking global cooperation, Daliri declared:

"We should coordinate with other countries around the world in terms of new technologies and blockchain is one of the problems."

In addressing the concern that some countries did not warm up with technology, Daliri said the benefits outweigh the disadvantages. Indicating some of the professionals, Daliri reminded the skeptics that the DLT architecture can immutably store data accessible to every participant on the blockchain network.

I came across

Blockchain unit of Iran

Meanwhile, the second largest country in the Middle East has accelerated its blockchain run as its economy suffers from heavy US sanctions. According to reports, the country has worked on two state-supported digital currencies to evade sanctions.

Last month, the global SWIFT payment network suspended the Iranian Central Bank to use their services. As a result, the Russian Crypto Industry and Blockchain Association (RACIB) joined Iran Blockchain Labs to develop a sustainable mechanism to support state-supported cryptocurrency initiatives.

Recent reports also suggest that Iran's low-cost electricity has attempted many bitcoin miners to open up in the country. Apart from this, there are a number of local startups that use DLT. At the beginning of the month, blockchain experts from the Iranian public research institute, Sharif University of Technology, announced the intention to launch a taxi-cab app.

Can blockchain technology help the Iranian economy? Share your opinions in the comments section below.

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