In the recent Kuala Lumpur summit 2019 between Turkey, Iran, Qatar, Indonesia and Malaysia, Iranian President Hassan Rouhani urged the muslim countries to develop a new financial system for mutual trade which can thwart the US Dollar dominance. He further added that this new financial system be based on blockchain. He termed this as a "muslim cryptocurrency". This is reported in AP.
This should be a big news for cryptomaniacs like us. We are all aware of how the developed democratic countries are in active discussions to launch their own cryptocurrency and some countries are actively working on launching a cryptocurrency in next couple of years. One of my early post discusses about this as well. With Iran giving a thumbs up and its support for creating an official cryptocurrency, it confirms that the muslim countries are not far behind. It further convinces me that the days of having an official cryptocurrency are not that far.
Cryptocurrency is one of the most popular investment around the world and Iran and other muslim countries are not far behind in crypto investment. With the talks for creating an official muslim cryptocurrency, do you think it is further going to boost the value of the current cryptocurrencies? Let me know in the comments what you think about it.
