Iran to Plan National Crypto as US Sanctions Loom

According to official, the tokenized analog of the Iranian rial will help strengthen the rate of the national currency
26 July 2018   823

The Department of Science and Technology under the Iranian government plans to develop a national cryptocurrency. CoinDesk reports that the project will be implemented in cooperation with the central bank of the country and will be a response to US sanctions that will take effect next month.

We are trying to prepare the grounds to use a domestic digital currency in the country.

lireza Daliri

Deputy head in charge of investment affairs, The Department of Science and Technology

According to Daliri, the tokenized analog of the Iranian rial will help strengthen the rate of the national currency, stimulate the growth of domestic and external payments, and, in general, help the country circumvent US sanctions.

Also, according to the official, during the next three months the department will be engaged in the integration of blockchain technologies into the infrastructure of the central bank. In this case, the internal crypto currency will be used primarily for settlements with local commercial banks.

Official position of the Iranian government on the cryptocurrency is very strict. So, since May of this year, Iranian users of exchanges and have problems with access.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   108

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.