Iran moves To Create Crypto To Challenge The Economic Dominance Of Us
Hassan Rouhani,Iran’s President has proposed to create a Muslim cryptocurrency as one of a number of means to oppose the economic supremacy/leadership of the United States.
Addressing the people in the Islamic conference in Malaysia on Dec. 19, Iranian President Hassan Rouhani invited and encouraged the Muslim nations to strengthen financial and trade cooperation and to terminate their reliance on U.S. dollar which the creation of muslim cryptocurrency will be one of the major ways.
On The Issue of new cryptocurrency to resist/challenge the economic leadershipm of the US
Rouhani, Iranian president contended that U.S. economic sanctions are the “main apparatus of domineering supremacy and bullying” of other nations. Rouhani put forward the establishment of a special banking and financial system among Muslim nations that use local currencies for trade. Local reports confirm that Rouhani suggested the creation of a new and unique cryptocurrency as part of the effort.
According to president Rouhani, ( quote)
‘Th’e Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime.”
In addition to the Iranian, the conference was also attended by leaders of major Muslim countries like Turkey, Qatar and Malaysia, while Saudi Arabia and Pakistan withdrew and disassociated themselves from the conference.
The idea of the Iranian President has assertedly gotten support from Malaysia alone to date, as the country’s Prime Minister, Mahathir Mohamad, approved the idea, as reported by local publication Free Malaysia Today. The official noted that this marks the first time that Iran and Turkey are deliberating on the opportunity of creating an alternative to the U.S. dollar. He said:
Turkish President, Recep Tayyip Erdogan expressly criticized the Organisation of Islamic Cooperation, arguing that the platform that connects the Muslim world together manifested a “lack of implementation.” President Erdogan also stated that Muslim countries needed to focus on Islamic financing. He suggested the establishment of a special working group.
It should also be noted that so many other countries are working tirelessly on creating a cryptocurrency of their own to enable them do away with US sanction. Venezuela is a perfect example of the said countries.