Central Bank of Iran(CBI) will launch a central bank digital currency (CBDC) pilot on Thursday.
Some countries are adopting existing cryptocurrencies, while others are launching their own digital currencies. El Salvador’s Bitcoin and Iran’s CBDC can be given as examples. The Central Bank of Iran is also taking the first step for its own digital currency.
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Iran, which started the pilot program for the digital currency focusing on the potential economic benefits it will bring, such as international payments, stated that its aim is to turn banknotes into programmable assets.
Iran has published an outline of the digital currency’s goals, dimensions, threats and development opportunities in recent months. According to the news service of the Iranian Chamber of Commerce, Industry, Mining and Agriculture, the Chairman of the CBI Ali SalehabadHe said the country now has the necessary infrastructure and rules for the CBDC.
The Iranian government sees crypto as a way to circumvent US sanctions. Also, according to the report, digital currency, bitcoin It is not designed to compete with global cryptocurrencies like (BTC). Beyond that, there are not many details mentioned by the CBI regarding the digital currency.
