Iran Considers Blockchain Technology Amidst Embargo Questions

Iran's Public Relations and Information Center for the Vice Presidency for Science and Technology suggest interest in blockchain by encouraging improvements to "The infrastructure of blockchain technology with the help of [the] government and private sector." This latest move indicates Iran is keen on joining other nations in getting a jump on the potential benefits of blockchain technology.

Despite understandable concerns of the new technology, Daliri, according to the report, thinks the potential for beneficial use outweighs the "Damages," for example, cutting down on bureaucratic inefficiencies within government agencies.

The article points out the importance of other countries making advances in blockchain adoption and development, specifically, the latest E.U. Blockchain Forum report, which outlines the necessity for blockchain development and implementation of "Digital versions of national currencies," pointing out the "Key inherent properties" of blockchain security.

Although government-issued cryptocurrency is a different beast, the interest in blockchain use is a step towards mainstream acceptance.

The coverage contrasts the benefits Dalari mentions by suggesting Iran is taking steps to avoid sanctions-in coordination with Russia-utilizing decentralization inherent in the technology to circumvent the U.S. trade embargo.

"Ironically, this authoritarian embrace of blockchain technology conflicts with the ideals of libertarianism and censorship-resistance supported by many cryptocurrency enthusiasts."

Iranian officials, in line with Venezuela, have also been preventing the exchange of Bitcoin and other cryptocurrencies in an effort to thwart adoption of international, decentralized currency, with the intent of forcing citizens to use a government-issued crypto instead. Again, this defeats some of the common ideology behind blockchain.

Some speculate cryptocurrency exchanges are taking notice of potential asset seizure, and are avoiding business in Iran.Future of Blockchain in Iran.

Iran notoriously continues to shun Western ideology-in addition to the worrisome pursuit of nuclear weapons.

The implementation of blockchain technology for social and economic improvements may be a positive step forward.