Iran Tries Digital Money, Here's The Central Bank's Opinion!

Iran will launch a digitalrial soon. (Photo; Doc. Reginnovate)

JAKARTA - The latest news from Iran, the government is preparing to pilot its digital currency. A project to create a digital version of Iran's national fiat currency, known as the "crypto rial", has entered the testing phase.

This was revealed by Mohammad Reza Mani Yekta, head of Iran's Central Bank (CBI) payment system surveillance department at a conference discussing electronic banking and payment systems.

According to Mani Yekta, the pre-trial stage has been completed with certain achievements, but it was not explained further about this. On the first day of the forum, he also noted that more than 90 central banks were working on blockchain projects. Iranian monetary authorities have been taking the first steps in the blockchain since 2017, focusing on technical aspects.

Mani Yekta juga mengingatkan bahwa CBI telah mengatasi berbagai masalah dalam hal manajemen tantangan ekonomi terkait pembayaran mikro serta mempelajari aspek lain terkait mata uang digital. Rencananya, mata uang digital pertama akan dirilis pada bulan September 2022, saat bank mengumumkan peluncuran perjadihan CBDC.

The digital currency issued will be distributed among national and commercial banks that already have the necessary infrastructure and are ready to provide services to the public. "The rules governing digital territory are consistent with regulations for rial banknotes," said Mani Yekta.

In addition, the Central Bank of Iran is also considering creating a gold-backed stablecoin for use in international settlement. The topic has been discussed with officials from Moscow, according to reports in Russian media earlier this year. Both countries were sanctioned by the Western government.

With the launch of this digital currency, it is hoped that it can provide convenience and benefits for the people of Iran. However, of course, it is necessary to carry out proper supervision and regulations so that this digital currency is not misused for criminal acts or money laundering.