Denial of Economic Sanctions? Iran Launched Borna Platform on IBM Hyperledger Fabric
Henry Chan May 30, 2019 02:00
The Central Bank of Iran (CBI) is developing a national blockchain project that aims to revolutionize the current banking and financial sector and create digital economy for its nation.
The Central Bank of Iran (CBI) is developing a national blockchain project that aims to revolutionize the current banking and financial sector and create digital economy for its nation. CBI via its Informatics and Services Corporation (ISC) partnered up with the Iranian blockchain solution provider – Areatak to launch the Borna platform to achieve its goal, according to Cointelegraph.
The Borna platform is built by the Areatak developers on Hyperledger Fabric and is owned exclusively by the ISC. It aims to lower the entry requirements for blockchain developers to develop decentralized ledger technology (DLT) systems.
The blockchain project initiated by CBI is allegedly in response to the economic sanction imposed on Iran by the United States. However, the project stakeholders denied the claim and said that the Borna is only available within Iran and does not support any cryptocurrency token.
Saeed Khoshbakht, the CEO of Areatak explained about the rumor on the project, he added “Those narratives about bypassing sanctions are just media games. They are not about reality. How can a national infrastructure that has no connection with international parties, be able to bypass sanctions? Borna is focused on national use cases and is hosted by national organizations. Tokenization of assets or Rial in the future is limited to Borna platform transaction cases, not an international transaction.”
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