Sputnik - The Russian Association of Crypto-Industry and Blockchain (RACIB) has signed a cooperation agreement with Iran Blockchain Labs � one of Iran�s leading expert organizations responsible for introducing digital technologies into the country�s economy.



According to�Yury Pripachkin, president of�RACIB, for�quite a long time, the association has been working closely with�experts from �Nooor�, which is a US blockchain association. They suggested our cooperation with�our Iranian counterparts, who have been invited to�ChainPoint 18 � an international conference held in�Yerevan on�November 14-15, 2018.


At first the cooperation will take place through�consulting services to�help Iran create a sustainable mechanism for�using the national cryptocurrency, Pripachkin said.

�So far the agreement provides for�collaboration through�consultation. RACIB includes companies from�various areas of�the crypto-industry, such as�miners, traders, blockchain developers, information security specialists or lawyers. Russian developers and experts enjoy a rather good reputation abroad, so Iran�s interest to�their experience is understandable. RACIB is a platform for�exchange of�contacts, knowledge and experience, including at�the international level,� Pripachkin pointed out.
�In theory, the mechanism should be aimed at�creating a domestic market through�the use of�cryptocurrencies in�daily life: in�stores, at�petrol stations, or in�the pension system; digital money can also be used in�government contracts, thus creating a working domestic market. If investors, including foreign ones, see the market living and developing, we will be able to�cooperate at�the international level,� Pripachkin said when asked how the cryptocurrency mechanism would work.


To summarize, perhaps Iran will draw on�the experience of�Venezuela, where there is the possibility of�using the petro to�pay taxes, fines, deposits and utilities. Individuals and legal entities can buy digital currency through�the project�s website.

When asked whether the mechanism would help Iran circumvent US sanctions, RACIB Head said that the crypto economy is supranational and it�s ineffective to�use prohibitive measures to�regulate it.

It is expected that the mechanism based on�blockchain would help Tehran carry out�monetary transactions when Iranian banks have been cut off�SWIFT.

According to�RACIB, despite�the fact that BITTREX and Binance, the largest cryptocurrency exchanges, have named Iran among�those countries they can�t work with�due to�US sanctions, Iran won�t have any problems with�placing their cryptocurrency.

"There are a number of�Asian exchanges, both large and medium-sized, that are interested in�working in�free economic zones that provide preferences for�their activities. For example, Huobi is one of�the large exchanges, and OKCoin is a medium-sized one. Everything will depend on�the conditions offered under�the Iranian jurisdiction,"� Pripachkin concluded.