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Iranian bank set to launch their digital currency today

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Today,  22nd of  Sept the Iranian bank is set to launch their digital currency which they termed Crypto rial, as they have been on a  plan to make that a reality way before now.

Crypto rial is a term that is  used to create and  key into the blockchain technology in order to change the currency of Iran to a programmable entity that can be traded across the world.

Crypto rial becomes a necessity when a country introduces and uses cryptocurrency in foreign trade.

This digital upgrade is supposed  to breed and help improve financial inclusion and also function as a powerful tool for the central bank of Iran to compete with other stable coin globally.

According to the chamber of commerce. He also included that while the central bank of Iran maintains that they are already very prepared for the launch as they have all the basic infrastructure and rules  that it needs  for the crypto rial.

Experts have also expressed some form of strong reservations about the practicality of these upgrade and what potential  positive impact it should have in the economy

As they expressed worry over the digital upgrade stating that it would have a negative effect on the banking institution  as it would affect their asset and their lending power and increase the extent of looses

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My name is Obasi Vera I'm a Blockchain Content Creator, a Web developer, Public speaker and an Economist. Outside of work I enjoy formulating different perfume fragrance and being a Rotractor, I believe in a better future for not just men but also women especially in the Blockchain technology.

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