The task of using digital currencies in Iran’s foreign trade will be determined in two weeks

A member of Iran’s Trade Development Organization has said that the issue of using digital currencies in foreign trade will be resolved in two weeks. Meanwhile, the head of the government agency said in January last year that the use of digital currencies in foreign trade would be possible within three weeks.

According to digital currency and to Quoted From the Young Journalists Club, Reza Mosaei, advisor to the head of the Trade Development Organization, said:

The China Blockchain platform has not yet been set up by the Trade Development Organization to use cryptocurrencies in exports and imports; But it will work in the next one to two weeks.

It has been about four months since Alireza Peyman Pak, the head of the Trade Development Organization, first mentioned the organization’s efforts to use cryptocurrencies in foreign trade; On January 16 last year, he announced on his Twitter account that according to the resolution of the first meeting of the joint foreign exchange working group between the Ministry of Silence and the Central Bank, in order to facilitate foreign trade, the mechanism of using cryptocurrencies in foreign trade should be finalized.

Mr. Peyman Pak also said on January 10, 2014:

China-based blockchain systems based on different currencies can create a mechanism by which trading parties give each other mutual guarantees, and cryptocurrencies can be a means of transferring exporter credit to the importer of goods. We are working on the mechanism of this system, the international part of which has been done, and within the next two weeks, the connection of the Ramzarz system to systems such as the comprehensive trade system will be defined and used.

The head of the Trade Development Organization also announced at a meeting of government officials with economic activists on February 11, 2014 that the organization was in talks with the central bank to replace China’s blockchain systems with LCs in the field of foreign trade. According to him, the purpose of this plan is to circumvent the sanctions; However, its mechanism and the obstacles that the Trade Development Organization may face in advancing this goal are still unclear.