Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
(Kitco News) - Iran’s Chamber of Commerce has reported that the Central Bank of Iran (CBI) plans to launch a pilot program for its central bank digital currency (CBDC), the crypto-rial, beginning on Thursday.
The crypto-rial is designed to leverage blockchain technology in order to transform Iranian Rial banknotes into a “programmable entity” that can more easily be transacted across borders and around the world.
According to CBI Governor Ali Salehabadi, “The bank has in place the infrastructure and rules for the crypto-rial. The cryptocurrency is planned as a new type of national currency, like banknotes and coins, but fully digital.”
On top of increasing usability, one of the main features of the crypto-rial touted by the CBI is its high level of security.
“Crypto-rial has been designed in a way that...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...