8 ms·
If Iran was serious, then they would use Ethereum or Bitcoin. They would make an exchange in their country to get local currency in/out Ethereum. The exchange
by HashThis 8y ago
If Iran was serious, then they would use Ethereum or Bitcoin. They would make an exchange in their country to get local currency in/out Ethereum. The exchange could allow local banks to transfer in/out (ACH-like) to the exchange to get in/out between Ethereum and their local currency. Then all cross-border controls are gone by Ethereum senders and receivers crossing borders.
The only reason not to is:
1) They don't want local currency holders expropriating their capital
2) It could result in their local currency having high inflation or even possible collapse down the road
But... if cross-border flow was really their goal, then they would use Ethereum.
- mihaifm 8y agoThe only problem with this aproach is that the local exchange needs to do an initial purchase of Ethereum from foreign markets, which is a traceable transaction. Once they’ve traced the original ETH all transactions flowing out of it can be blocked by the other exchanges. Their options are to either use a privacy coin (Monero) or make the initial purchase underground and somehow hope it doesn’t get discovered.