Challenges and opportunities cryptocurrency in Iran economy & e-businesses

Abstract

The worlds financial markets faced a new cyberspace phenomenon. Cryptocurrencies are non-tracking by any bank or financial institution or even the state. In a digital transactions system, transactions are registered and encrypted in a general ledger book, the blockchains. Cryptocurrencies have features that make them more useful, especially in international exchange, so it is necessary to determine the advantages and challenges of using them. The study of digital currencies in Irans economy and electronic business is presented. In recent years, the use of cryptocurrencies in Iran has grown. The necessity of public policymaking in facing this emerging phenomenon of economic importance has become more critical due to the transfer, such as decentralized systems, which led to the elimination of intermediate and observer entities. Cryptocurrencies also allow Iranian businesses and governments to direct access the international markets by bypassing sanctions. In this paper, the author first considers the mechanism of cryptocurrencies in the economy and then identifies the Iranian economys challenges and opportunities. In conclusion, cryptocurrencies can allow Iranian entrepreneurs to enter the international arena and international competition. Therefore, it is vital that the government or public organizations raising awareness about cryptocurrencies will also contribute to the prosperity of businesses and prevent criminals from exploiting the conditions.