Ilia Company, one of the Iranian companies in the field of business, has examined in a detailed report the opportunity for Iran to benefit from the field of digital currencies.
This report is divided into three main sections. The first part is called “Iran Yesterday and Us, Repetitive Humans”, which refers to the history of money evolution in the last 5,000 years, and then describes the digital revolution and cryptocurrencies and their role as the currency of the future. In the final part of the first chapter, “repetitive patterns” are examined. The second part is called “Iran Today and We, the Searching People” and revolves around the people, businesses and government. In the third and final section, entitled “Iran Tomorrow and Us, Adaptable Humans,” Ilya examines future scenarios for the digital currency ecosystem in Iran. The various approaches to governance / government and their products, examples of a positive approach to governance / government, and today’s historic opportunity are among the subsets we read about in Chapter Three.
In the first phase of its report, Ilia examines the basic monetary system in Iran. In part of this phase we read:
According to studies, in this monetary system, all goods were priced according to a common criterion, but their actual payment (exchange instrument) was made using several goods.
According to the report, money was not a state monopoly at the time and could be valued intrinsically, decentralized and diversified. After that, coin money came into being in Iran; This money had a relatively intrinsic value, its distribution was more centralized than before, and it was less diverse.
Shortly afterwards, the credit monetary system was launched in Iran. At this time, many loans were provided to the society, we witnessed the establishment of the first official bank of Iran. The features of this monetary system include contractuality, centralized distribution and less diversity than previous systems.
Unsupported monetary system can be considered the newest monetary system in Iran. Because banks will not be able to repay gold in exchange for banknotes, central banks have officially reduced the percentage of gold backups, so banknotes issued by the central bank based on the country’s economic backing and individuals’ bank accounts in commercial banks backed by central bank documents are printed. They were.
In another part of his report, Ilya explains the characteristics of each token by describing the types of cryptocurrencies. In part of this report we read:
Cryptocurrencies can be considered as common currencies due to their defining characteristics of economic value of currencies such as accessibility, transferability and ability to convert to other currencies, and various governments and actors around the world are moving towards accepting cryptocurrencies as money. In exchange for providing services and products.
According to the report, investing is an emerging monetary behavior among Iranians. At the same time, the monetary characteristics of the currency code are directly related to the comprehensive improvement of society. In his report, Ilya hypothesizes that in the world of cryptocurrencies, where monetary indicators are at maximum intrinsic value, decentralization, distribution and high diversity, indicators related to the analysis of society can also be in their ideal state, which means moving towards the world of cryptocurrencies. It does not necessarily create unfavorable conditions for the country.
In another part of his report, Ilya claims that about 17% of Iranians have passwords. The statistical samples in this report focus on people in the age range of 18 to 65 years.
The data from this report show that 65% of Iranians believe that the future belongs to the cryptocurrencies. 33% are skeptical about its fate and only 2% of people are pessimistic about their future.
In the business section of the report, he examines the cryptocurrency ecosystem in Iran under a magnifying glass and explains the parts of this ecosystem. The report states:
The cryptocurrency ecosystem in our country has grown unevenly.
One of the most interesting parts of the report is examining the reasons for people entering and leaving the digital currency market. The main reason that the Iranian people admit for not entering and also leaving the field of cryptocurrencies is the lack of expertise and information about the market. Among the participants, 21% cited expertise as the main reason for leaving the market. 23% say they have made enough profit so far. On the other hand, 12% consider the loss as the main reason for their exit.
On the other hand, 38.5% of the participants say that not having enough information did not enter the market. 23.5 percent say they do not have enough money to enter and 11 percent blame the high risk.
In the next section, the report examines the approach of countries to digital currencies and examines the role of various legal institutions in Iran and other countries of the world.
According to this report, the flood of cryptocurrencies has given us an exceptional opportunity.
The report also cites two possible scenarios, the Silk Road and the Chalous Road, as scenarios facing Iran’s crypto ecosystem or the 1410 horizon.
In the Silk Road scenario, Iran has broader international relations, and this will determine its policy lines on cryptocurrencies.
On the other hand, in the Chalous Road scenario, Iran’s international relations are very limited and the shadow of sanctions continues to weigh on the country. The report believes that there are common features in both scenarios. The report states:
In previous years, the lack of effective communication between Iran and international markets due to oppressive sanctions and the dominance of some countries’ currencies ($ 1 and 2), prevented Iran from playing a wider role in the global financial arena, but now with the emergence of a phenomenon called cryptocurrencies. The game of superpowers and the monopoly of financial highways are like blood in the veins of the world. Today is a historic opportunity for Iran to play its role as one of the main shapers of new financial highways in line with its national interests. This effective role-playing will be made possible by a positive approach to the phenomenon of cryptocurrencies and cryptocurrencies by strengthening and facilitating the growth of the cryptocurrency ecosystem and the businesses that operate in this field; By creating calm in the activities of our country’s talented and knowledgeable youth, the more Iran’s share of the world’s cryptographic interactions, the more prominent its role in determining its future path, many countries are trying to play a more prominent role in the world’s financial future and we We must make fateful decisions at this critical juncture.
Download the full version of this report from this link.