Iran’s Minister Says The Crypto Digital Currency Model is Ready

cryptobble.com (-5)(1)in #cryptocurrency • 6 years ago

Iran is moving ahead with a crypto-currency “experimentation,” a government minister said days after the country banned crypto trading.

“The central bank’s (ban) does not mean the prohibition or restriction of the use of the digital currency in domestic development,” Mohammad Javad Azari-Jahromi, Iran’s IT Minister, said before further adding:

“Last week, at a joint meeting to review the progress of the (local cryptocurrency) project, it was announced that the experimental model was ready.”

That will now be presented to Iran’s banks for review and possible approval, but details of the project are very scarce.

It is unclear, for example, how exactly this crypto-currency works, on what blockchain it is based or whether it runs on its own blockchain, or whether it is a token, as well as whether it is really a cryptocurrency or just in name, and if it is, whether it would be accessible to all or just banks.

Nor did the minister provide much information in February when he announced plans for the pilot, back then he said:

“In a meeting with the board of directors of

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