Big news๐คฉ๐ค๐ฅ๐ซ๐๐๐๐ for Kish Island is the location of Iran's CBDC Revolution. ๐ฎ๐ท๐ช๐ฅ
The major development happening on Kish Island involves Iran launching its digital currency, the digital rial, starting in July. This move aims to simplify transactions by allowing people to use digital wallets for payments and transfers instead of cash or bank cards. It also enables direct transactions between users without traditional banks' involvement. The initial phase involves Mellat Bank and Tejarat Bank, leveraging Kish Island's favorable conditions as a deregulated area with a large population and tourist influx for testing. Iran's๐ฎ๐ท central bank has set goals like enhancing payment infrastructure, efficiency, and security through the digital rial. This initiative follows Iran's earlier steps in developing its CBDC and exploring its potential for international transactions. The pilot program marks a significant step in Iran's CBDC exploration. What are your thoughts on this development? Do you believe Iran๐ฎ๐ท will achieve long-term success with this digital currency? Keep updated by following me.
