National digital currency to be available to public soon: CBI

January 29, 2022 - 11:44

TEHRAN – Central Bank of Iran (CBI) announced that the national digital currency will be available to the public soon.

A week ago, CBI Vice Governor for IT Affairs Mehran Moharamian announced that the bank plans to launch the national cryptocurrency in a pilot phase in the near future; although he provided no further details.

The official said the bank sees cryptocurrencies as a solution for resolving inconsistencies and decentralizing resources, something that many countries have started to benefit from recently.

In 2018, Informatics Services Corporation, the executive arm of the Central Bank of Iran in charge of operating the country's banking automation and payment services network, was tasked with developing a national cryptocurrency.

The company’s officials later said the Iranian cryptocurrency has been designed using the Hyperledger Fabric platform.

It is a blockchain framework implementation and one of the Hyperledger Company's projects hosted by Linux Foundation.