As per the crypto market news, Iran has started working on tests to check the mitigating effects of blockchain technology in the financial system. The Iranian governments were constantly making efforts to develop a strong economy for themselves before they get bolted from the financial system at a global level. From SWIFT, U.S., however, has barred the Iranian banks and they could no longer receive any payments for exported goods and pay for any imported goods. By doing so, the aftereffects might cripple the economy and they will be thrown out of global market space.
In order tosave their economy from getting bolted, the Iranian government is getting ready to launch the cryptocurrency which is still expected to be launched formally in the Electronic Banking and Payment System conference is scheduled to be announced in last week of January. Though, some believed that Iran’s state-backed cryptocurrency is not a good alternative solution for replacing SWIFT which doesn’t allow Iran to participate in the global market. But, it can still be considered to be a groundbreaking decision which is future can help in building bigger projects. The state-backed cryptocurrency could be rolled out in several phases and these phases will help in rolling out the payment facilitation system between banks and other commercialized institutions of the country.
Massively Undervalued State of Litecoin Price
Recently, Litecoin has been on headlines for its collaboration with TokenPay, they have acquired the shares of a German bank and the new intrigued crypto phone has been launched by HTC which will help LTC. It has been reported that the current Litecoin price can be seen asa massive discount which should be of worth. It will help in storing the value and offers a very cheap and fast-paced transaction medium as compared to Bitcoin. The network of Litecoin won’t be threatened due to its crypt dominancy.
