Drudge Retort: The Other Side of the News
Friday, July 12, 2019

Blockchain technology provides Tehran an opportunity to build new financial infrastructure that is immune from Washington's most effective sanctions. While acknowledging that it was "immature and farfetched" to suggest that blockchain technology could help Iran evade sanctions immediately, Ali Divandari, the head of the Central Bank of Iran's Monetary and Banking Research Institute and himself a target of U.S. sanctions, said in January 2019, "Blockchain can truly revolutionize the concept of money." Divandari also asserted that blockchain's technical separation from banks' conventional payment systems theoretically would shield them from U.S. sanctions pressure.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

Long analysis article. You can skip to the Iran section... or read all of it if you have the patience. I found it very interesting.

#1 | Posted by J_Tremain at 2019-07-12 02:40 AM | Reply

"Divandari also asserted that blockchain's technical separation from banks' conventional payment systems theoretically would shield them from U.S. sanctions pressure."

This is why Bitcoin is worth what it is.
It's a way to spend money without the Tax Man taking his cut.
If you want to know how much money that's worth, just add up every tax paid in a year.
It's a good-sized chunk of global annual GDP.

#2 | Posted by snoofy at 2019-07-12 09:26 AM | Reply

Except you are required to pay taxes if you use bitcoin or not. The public immutable ledger makes tracing transactions easy. Identify one party and make them squeal and you get the counter parties.
committing crime using bitcoin is crazy.

it is very useful at moving money to people past past currency controls or without bank fees, which are very high in corrupt countries.

#3 | Posted by bored at 2019-07-13 03:14 PM | Reply

"committing crime using bitcoin is crazy."

Any less crazy than using cash?
Heck, if bitcoin isn't even a currency, you necessarily can't commit financial crimes with it.

#4 | Posted by snoofy at 2019-07-13 03:37 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2019 World Readable

Drudge Retort