Bitcoin already used as an exchange currency – Bitcoin was created in 2009 with the aim of providing an uncensorable medium of monetary exchange. Almost 13 years later, the promise made by Satoshi Nakamoto seems to come true. The Islamic Republic has just formalized the use of cryptocurrencies for international trade. As we reported to you a few weeks ago, a Bitcoin transaction has already been completed. Tehran seems to want to speed things up, and embrace the censorship of BTC and its network.
Satoshi Nakamoto: Catch Bitcoin if you can
In early August, Iran had already formalized a commercial exchange settled in bitcoins. Cryptocurrencies are beginning to find and (prove) their use cases. Few months ago, Bitcoin allowed two journalists to buy a car to cross Ukraine and cover the conflict.
The Iranian Minister in charge of industry has just revealed that imports can now be paid in cryptocurrencies. Local companies can also import cars using cryptos, in order to circumvent sanctions. Indeed, Iran is under international embargo and cannot use euros or dollars freely.
Sorrowers will criticize that this use helps circumvent international sanctions, but we will remind them of the principle of technology neutrality. Neutrality regularly challenged in the crypto sector, the latest example being the arrest of a developer from Tornado Cash.
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