Reports & Analysis

10 reasons why digital currencies will transform Iran’s economy

The use and price of blockchain-based digital currencies is rising day by day, leaving critics increasingly frustrated. Many digital currency critics are waiting for these currencies to fall, but digital currencies will probably never achieve these results. That is why some of the world’s great economists consider Blockchain technology to be the best initiative of the century in the history of the Internet.

In this article, we look at 10 reasons why digital currencies can change Iran’s economy:

1) Resistant to inflation

10 Reasons Why Digital Currencies Will Transform Iran's Economy

Digital currencies without inflation

The problem with traditional currency is that central banks can print as much money as they like, and in the event of an economic crisis they print new money and inject it into the market, which causes inflation. Inflation is difficult to control. And it may lead to a decrease in people’s purchasing power. Bitcoin and other digital currencies are designed to be mined only in certain numbers. That is, after reaching this number, their number will not increase and therefore, inflation can not change the value of digital currencies and reduce their value.

2) Breaking the borders of sanctions

10 Reasons Why Digital Currencies Will Transform Iran's Economy

A world without borders with digital currencies

This is good news for the people of our dear country. The international nature of Bitcoin allows anyone anywhere in the world to do their transactions. Most online shopping sites today use PayPal or Visa cards to shop. But since these features can not be used in Iran and several countries that are sanctioned or need to be used for intermediaries, Bitcoin can be replaced and people around the world can make the most of the Internet without any problems. This is the internet that is the dream of many Iranians.

3) Decentralization

10 Reasons Why Digital Currencies Will Transform Iran's Economy

Blockchain digital currencies are decentralized

Perhaps the most interesting part of digital currencies is that 80% of them are decentralized. It is almost impossible to stop Bitcoin or Ethereum. Why is this important? Because in the past, every money that was made had a central organization that controlled it. And because there was a central organization behind the currency, it was possible to stop making money with the decisions of that organization. E-Gold was creating a currency but the government stopped it. Even PayPal is a kind of currency, but PayPal has to operate under government control.

Bitcoin and Ethereum are completely different. These currencies can be stored on any computer and anyone can modify the Ethereum or Bitcoin blockchain database. There is no central server that runs bitcoin. If you stop a server, there is always another server. It is like if you stop one company, there is another company. As long as there is hard drive, internet and electricity, there is bitcoin.

Even if governments outlaw digital currency, it can still be used. Just like downloading copyrighted music, it is illegal, but no one can stop it. Digital currencies are a foundation for achieving the eternal human desire (that humans can live as they wish). People will probably not be as patient as they are today if permanent rules set the stage for the evolution of future lives. Just as it was once legal to have slaves, but when people became aware, they somehow abolished it. So when people realize that they can store their wealth in these currencies without government oversight or interference, they will definitely join it, whether it is legal or illegal.

4) Almost free

10 Reasons Why Digital Currencies Will Transform Iran's Economy

Digital currency transactions are almost free.

If you are not in a hurry to do the transaction, you can do the transactions for free. If you want to complete your transaction in 10 minutes, the fee is very low, such as 0.01 cents. Even if you send $ 1,000,000, the fee will be less than $ 10. This is a fairly fair fee for transferring this amount of money. Nothing can make your transactions cheaper than digital currencies.

5) Being international

International digital currency

Digital currencies are not limited to geographical location

For example, Bitcoin is everywhere in the world, no matter where you are. When you are in another country, the value of bitcoin is the same in that country. Bitcoin is not limited to a specific geography. No matter where you are, if you have electricity, mobile or a computer connected to the Internet, Bitcoin is ready to serve you. The same is true for other Blockchain-based currencies.

6) Security

Security of digital currencies

Blockchain-based digital currencies are not hackable

Blockchainchain-based digital currencies have never been and will never be hacked. Also, no one has ever complained that the transaction was wrong. The computers where these currencies are located may be hacked due to low security and the currencies may be stolen, but it is impossible to hack the currency itself because it is impossible to hack the Blockchaink because computers from all over the world are connected to it. . Advanced Bitcoin and Ethereum encryption also allows transactions to be performed with the best possible privacy.

7) Privacy

10 Reasons Why Digital Currencies Will Transform Iran's Economy

Digital currencies enhance people’s privacy

It must have occurred to you that you have submitted documents or filled out several forms to create a bank account. In Blockchain digital currencies, however, all of these are eliminated. You do not need to register, send documents or even provide your first and last name to make transactions in digital currencies, it is enough to have your wallet address.

8) Easy shopping

10 Reasons Why Digital Currencies Will Transform Iran's Economy

There are several major online stores in the world and several different sites that allow you to shop online with Bitcoin, and you can make your online purchases faster than you think. But this is not just about online shopping. Today, there are several shops and restaurants in Japan and developed countries that you can use Bitcoin to pay for your orders. There is even a store in Japan that has no seller and you will receive the products after selecting the products and paying with Bitcoin.

9) Creating modern jobs and businesses

10 Reasons Why Digital Currencies Will Transform Iran's Economy

Future businesses are based on digital currencies

Although digital currency technology eliminates many jobs, it does create new businesses that provide services with digital currencies. Examples include wallet delivery services, new programming languages, businesses and exchanges, ticketing systems, automatic payment systems, and more.

10) The possibility of eradicating poverty in society

The power of digital currencies

Increasing the power of digital currencies increases the power of the people

When people’s money is not concentrated under supervision, then people will have more authority. Like a knife that can be deadly or life-saving, these powers have both positive and negative aspects. But as people become more aware, the positive aspects will definitely increase. So it is not digital currencies that have to adapt to central organizations, but it is the organizations that have to align themselves with digital currencies.

Source: Digital Currency


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