After Venezuela "Petro", Russia & Iran Considering Crypto for Trade through Iran's New National Crypto Currency

Russia and Iran have held discussions over cooperating to utilize crypto ccurrency for the purpose of bilateral trade, after Trump's formal withdrawal from the Obama-era Nuclear deal with Iran.

“They share our opinion,” Mohammad Reza Pourebrahimi Chief of Iran’s Parlimentary Commission of Economic Affairs revealed after a meeting with the Russian Parliament’s Committee on Economic Policy.

“We said that if we manage to promote this work, then we will be the first countries that use cryptocurrency in the exchange of goods,” the official said at the time.

Iran Inches Closer to National Cryptocurrency in Plan to Evade US Sanctions https://t.co/IFx0iTHrrl

— CCN (@CryptoCoinsNews) July 26, 2018

Earlier this year in February, Iran's Information and Communications Technology (ICT) minister Mohammad-Javaz Azari publicly revealed that Iran is planning to develop its own National crypto currency and in May, 2018 the Minister has confirmed an experimental model of crypto currency is ready.

Iran’s Informatics Services Corporation (ISC) a central bank-affiliated body, has disclosed that the pair for the crypto currency will be fiat currency Rial. Hyperledger Fabric technology, the blockchain framework initially developed by IBM and Digital Asset and now hosted by the Linux Foundation, is being used to in developing Iran's crypto currency.