Martin Everson said:
In the future being able to exchange digital Rial for other cryptos or CBDC's could break the back of western sanctions on Iran. It would make international business a lot easier for Iran.
Actually a future where every country issues their own CBDC's and can trade with whoever they want without SWIFT and outside the dollar is very interesting for developing countries. It would off course require strict bilateral rules to prevent excessive printing of CBDC's by any one central government - and hence devaluing them for the holder. But rules can be worked out with careful planning. Then its bye to SWIFT/Correspondence banking and goodbye to dollar hegemony smi(&%.
P.S One problem. The high level of US denominated national debt held by some countries will restrict their ability to go this route. Meaning they will always need dollars for the foreseeable future.
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