Interesting facts. The third largest oil producer in the world is about to use crypto

TECHNOTEC
TECHNOTEC
Sep 7, 2018 · 1 min read

What’s the connection between oil and crypto? Not long ago, there was a country attempted to establish its own digital currency backed by oil, but later it turned out that there was no oil support of crypto at all.

While emotions run high in crypto-world: currency rates rise and fall, Iran decided to use digital assets.

The third largest oil producer in the world, Iran, wants to compensate the expected petrodollar decline by using crypto-currencies, as a respond to US economic sanctions targeted at oil sales reduction.

Just a few days ago, the President Hassan Ruhani’s administration announced that the country is ready to accept the crypto-currency mining as an independent industry.

Another curious fact: while bitcoin keeps losing in price, its price in Iran has reached the historical maximum of $ 24,000 per a coin on the Iranian stock exchange EXIR.

On Tuesday, Iran announced that within three weeks it will officially accept the production of bitcoin and other crypto-currencies as an independent industry.

That’s how the authorities try to stabilize the economic situation.

http://technotec.org/

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