• 27 August 2018 - 16:02
  • News Code: 90482
ارز رمزنگار ملی

The latest details and specifications of Iranian national cryptocurrency based on rial and blockchain have been delineated.

According to IBENA, Informatics Services Corporation (ISC), which is affiliated with Central Bank of Iran, reported that the attributes of the Islamic Republic of Iran's national cryptocurrency are as follows;

1- It is rial-backed and has been designed and developed by Informatics Services Corporations based on Hyper-ledger Fabric Platform technology.

2- The issuer is Central bank of Iran and the volume of issuance depends on the bank's decision.

3- Iranian cryptocurrency has been developed under private blockchain infrastructure and cannot be mined.

4- The infrastructure is supposed to be as an ecosystem available for Iranian banks and active companies in cryptocurrencies area after being tested and reviewed.

Other functions of this blockchain infrastructure include phase one as a token and interbank payment instrument and phase two as an instrument for retail payments in a society.

It is worth mentioning that IBENA is an only specialized news agency in banking and economy area, which is affiliated to the Central Bank of Iran.

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