a.i & blockchain

iran is considering using cryptocurrency to seek to circumvent sanctions

Iran’s government outlawed cryptocurrency trading at the start of 2019. the proliferation of thousands of crypto-mining facilities in Iran has had a significant impact on the country’s overall power grid, which explains this phenomenon.

iran started using cryptocurrency to settle foreign trade in 2022 as the country looked for alternatives to the us dollar and international banking. iran recently received its first official import order paying in cryptocurrency. smart contracts are predicted to become more prevalent in international trade as countries such as Iran seek to circumvent sanctions.

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