Monetary and Banking Research Institution
Date:1/12/2019 9:40:49 AM   |   Code : 294024
Blockchain-Focused Studies are on the Agenda of the Central Bank
Blockchain-Focused Studies are on the Agenda of the Central Bank
The Secretary General of the Central Bank announced the focused studies of the bank for the use of Blockchain technology.
 

Mohammad Talebi said: “Most problems in the current financial world, such as fraud and counterfeiting will be solved and will change completely with the Enhanced Encrypt system in Blockchain.” according to the Public Relations Department of the Monetary and Banking Research Institution, and quoted by the news headquarters of the 8th Annual Conference on Electronic Banking and Payment Systems.

On the importance and necessity of serious research about Blockchain technology, with the premise that Blockchain is a new technology that is being introduced and is expected to be a major development in the world after the Internet, Talebi added: “It is predicted that Blockchain brings all the Internet-created structures into a new paradigm and make significant changes.

He said that the big changes in the financial system would be the ones that Blockchain technology would bring, and the financial system is expected to change greatly in the Blockchain era.

The Secretary General of the Central Bank described Blockchain's most important feature as a restructuring of the centralized financial system and explained that, based on this technology, the structures based on "centralized financial management institutions" would change, and they will be managed in the so-called Distributed Ledger Technology, which is Blockchain technology.

He added that the world's financial systems are currently based on centralized entities, for example, Swift runs all transactions between countries around the world, and central banks in countries operate all financial transactions within a country, but Blockchain technology changes this paradigm. That means there will not be any centralized monitoring, and everything will happen in the network.

Talebi said: “The financial system will enter the interesting world after Blockchain, for example, that Crowd financing, or collective financing, is a new phenomenon in the financial field, and I believe it will have a new form with Blockchain technology, as well as the supervision of regulatory agencies that will be applied in a different way, while the way of contribution and investment and the presence of people in the financial system will take place in a more Privacy state (Privacy and Security).

The secretary general of the Central Bank predicted that many of the problems in the current financial world, such as forgery and fraud will completely change with the Enhanced Encrypt system in Blockchain.

Talebi, pointing out to the discussion of Cryptocurrencies (Universal Cryptocurrencies), continued: countries are now moving towards national Cryptocurrencies that will make major developments, also capital markets are moving towards tools that are based on Blockchain.

He spoke about the conferences organized by the Central Bank on this issue, saying that these conferences could gather the views of experts on what happens in our financial system in the new era of Blockchain technology.

It should be noted that the 8th Annual Conference on Electronic Banking and Payment Systems with the theme of the Blockchaina Revolution will be held in the Milad Tower Conference Hall on 9th and 10th of February.

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