Countries Waking Up to Crypto Potential to Circumvent the USD

[wry]

I thought this news item was interesting because it reflects something many have expected for awhile, countries recognizing the potential for crypto to end their dependance on using payment systems dominated by the USD.

This news story had Iran's President talking about how a crypto currency could do just that.  I have to say I agree with him, but wonder if Iran or any other country that is under sanctions can make a successful alternative.  It seems to me they need to work on it BEFORE they get put under sanctions by the US and other developed nations.

Link to story:  https://www.coindesk.com/iran-president-we-need-a-muslim-cryptocurrency-to-fight-the-us-dollar

[nuuuitsjdragon]

Making their own alternative coin? They'd require a very good proposition though for mainstream acceptance. 

I assume most of them would be better off working with current coins... and work on developing systems which can take advantage of the existing coins in the market.

This way, lesser resources would be spent on otherwise-redundant aspects like marketing etc. 😵

[williamshennie9]

I seems like countries that are aware of the trend of crypto, are either trying to ban it, or are accepting the change. I think countries that embrace change will be the winners at the end.