In order to withstand the harsh sanctions imposed by the US government, blockchain-based digital assets such as Bitcoin (BTC) have now become a legal tender in the Iranian tourism industry, and the country's authorities are working hard to launch a state-sponsored crypto currency.
Iran Embraces Crypto Coins
The failed negotiations between the United States and Iran in 2018 brought renewed sanctions to encourage many European tourists to visit the region, while the radical devaluation of the Iranian rial has attracted people from neighboring countries.
Various tourism-oriented firms have now integrated crypto money integration into their businesses in order to make life easier for visitors. One of these companies is Iranbybit, a travel and tourism company that offers a wide range of cost-effective services to its customers.
Reportedly, the platform is managed by several enthusiastic millennials and accepts both bitcoin (BTC), debit cards and fiat payments. Interestingly, other forward-thinking initiatives have also begun to exploit the current economic turmoil in the region to make crypto-based businesses.
Covering the Cavity
According to AL-Monitor, rmoney, a local crypto currency that was launched eight months ago and licensed by the Central Bank during the 12th Tehran International Tourism Fair between 12 - 15 February 2019, introduced its digital assets for the tourism sector.
Rmoney cryptocurrency facilitates the payment of crypto fees by foreign customers of all tourism companies in Iran and eliminates crypto currencies using rmoney.
Mehdi Naseri, CEO of Rmoney, said about the initiative:
Em The aim of creating tourism digital money system is to solve problems related to foreign payments. As payment difficulties in this sector are solved, more foreign tourists will be attracted to Iran, as well as producing foreign currency incomes and providing employment opportunities for their residents.,
The government reportedly put the finishing touches on the state-backed crypto project and other blockchain infrastructures are also under development in the State.
However, Iranbybit is not very enthusiastic about the country's crypto project, and Iran's state-backed crypto has said it may not be able to solve accessibility, acceptability and reliability issues that are currently disturbing rial. It is.