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Edited by qqqpeter at 2019-12-22 22:40

Blocktempo.com reported that Iran President Hassan Rouhani said at the Islamic conference in Malaysia on Thursday, the United States has adopted "economic sanctions" as "main tools of domineering hegemony and bullying" against other countries. It is proposed to create a cryptocurrency for Muslim countries to replace the US dollar.

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Rouhani contested the Iranian presidential campaign in 2013 as a conservative, and he was re-elected successfully. He is currently the seventh president of Iran. According to the USnews.com, Rouhani has proposed an Islamic financial payment instrument. Let it be used by Muslim countries trading in their own currencies. In addition, he also proposed to create a "Muslim cryptocurrency", hoping to reduce dependence on the US dollar and resist the impact of market fluctuations.

At the meeting, Rouhani urged Muslim countries to deepen cooperation in finance and trade in order to combat the "US economic hegemony" in his mouth. Iran has been hostile to the United States in the past and has been fighting the US's suppression of Iran. After President Trump took office, the United States has continued to sanction Iran's various industries. According to the Taiwan Ministry of Economic Affairs, the United States Relevant sanctions announcements from space agencies to the Iranian Central Bank have also continued to worsen US-Iranian relations.

However, a report earlier this year pointed out that Iran is planning to launch a "central bank digital currency" in an attempt to break through the "heavy economic sanctions" offered by the U.S. government. At that time, it was pointed out that Iran and other countries with "complex relations" with the United States may be passing Blockchain creates a financial system independent of U.S. hegemony; and today the Iranian president is also calling for the creation of a Muslim cryptocurrency and a determination to break away from the hegemony of the US dollar.

Honored as the “Father of Malaysia’s Modernization”, Malaysia’s Prime Minister, Dr. Mahathir Mohamad also agreed with Iran ’s proposal to use the cryptocurrency instead of the US dollar. According to foreign media, Mohamed said,

Sometimes when we use the US dollar, it does appear that the sanctions have curbed the economic development of the country; we can use our own currency or have a common currency.

He had proposed a trade alternative to the US dollar a long time ago and was working in that direction, but the "superpowers" responded, and Mohammed added,

Their response was to stop us from using any other currency because Using a country's currency gives it more power.

With the revolution of the currency world brought by cryptocurrencies, will the important role of the US dollar in the world economy be replaced? At present, we cannot know how the world situation will change, but it can be speculated that as countries' dissatisfaction with the hegemony of the US dollar gradually accumulates. These countries may try to cause the United States to further their efforts by creating circulation currency and challenging hegemony. Note that cryptocurrencies are likely to play an important role in this.
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