Syria is the first Arab country to establish a digital currency

[Davidparra 3]

No entiendo mucho de este movimiento, de ser cierto, tendría que investigar un poco más y esperar el desarrollo con el tiempo espero que logren buen éxito

[Teofilo Leandro ynca 64]

It is very good that more countries join the world of cryptocurrencies so that the values of each currency increase in value and that an Arab country makes its own currency to launch abroad is something incredible many countries should follow the example

[mis3rably 57]

May be genuine in Syria, but you say a computerized cash, not a cryptocurrency. There's a enormous contrast between the computerized cash and the cryptocurrency. In my conclusion, Syria cannot bargain within the decentralized showcase, meaning that the advanced lira will have oversight

[mahdititus16 216]

syria is not the first arab country establish a digital currency because syria in the war right now , all the countrys arab the gonverment do not let hem doing the bitcoin currency .

[arqjairoc 112]

Yo esperaba que esto sea un comienzo y que los demás países lo tomen como ejemplo y así creen su propia criptomoneda, aunque esto inundaría el mercado queriendo que las otras criptomonedas bajen de valor.

 

[elimdavid 66]

Very good initiative from Syria; expansion of cryptocurrencies on a global level is necessary and permanent. Nations also think of having a support in case everything else fails in traditional markets.

[jourdain 28]

This is wonderful, because everyone knows that the Arab countries are backward, especially the digital currencies that they originally prevent them from dealing with, and this is a step we call for progress, that digital currencies are increasingly used in the world

[peace4all 46]

On 3/14/2020 at 11:17 PM, Nezar said:

How are you? I think that everyone who has read the title of this topic will enter it while they are surprised, as happened to me when I read this topic
The title was that there is a company that will launch the first Syrian digital currency for external trading soon.
The title was that there is a company that will launch the first Syrian digital currency for external trading soon. I entered the site and was surprised that there was news that the preparation for launching the first Syrian digital currency abroad was completed. The director of the organization, Fadi Shammout, explained to Al-Iqtisadi that “the digital currency can replace the dollar in foreign trade transactions such as the import that drains a large reserve of foreign currency.” It causes an increase in demand for it
He added that this can be achieved by contracting with companies and countries outside to deal in a currency (Lira), especially in light of the international trend to reduce the float of the dollar globally, whose seriousness appeared when the BRICS countries issued a digital currency of their own, allowing countries that have economic sanctions to deal with them. Shammout said that the laws and legislations in Syria prevented the new system from providing its services inside Syria, knowing that it would have positively reflected on the living reality of the Syrian citizen and support the national economy. And he explained that if the idea was adopted at a governmental level, it would lead to the gradual and final abolition of the dollar and the raising of the value of the Syrian pound, and lead to easy integration and interdependence between developed countries in the field of the global digital economy in the future.
But despite this government ban, the company will proceed with its project within the Syrian territories, as he says:

According to Shammout, "The company is currently working on establishing its infrastructure in Syria despite all the difficult circumstances and the modest environment, and coordination with companies that refuse to deal in the Syrian pound or accept requests from Syria, because of the economic blockade imposed on them such as Google Play and other companies." Shammout hoped that the government would pay attention to the Syrian pioneering minds, build the incubating environment for them, and provide support in all its forms to preserve them in their homeland, and not to exploit or displace them from the weak souls.

With the continued fluctuation of the dollar exchange rate against the lira in the parallel market, one economist recently suggested that Syria should convert to the digital currency, expecting the proposal to have a significant impact on reducing and controlling the exchange rate and increasing the purchasing power of the citizen.

In response to the proposal, the economic expert, Abed Fadliya, emphasized that activating the electronic payment or finding a Syrian electronic currency has positive repercussions on the Syrian economy, but they have nothing to do with the dollar exchange rate, because the latter is determined according to supply and demand, and is not affected by the financial dealing mechanism, whether it is electronic or Paperless.

You can read the full story by logging in to this link https://shaamtimes.net/214431/ The company is launching the first Syrian currency to trade /

This is a positive outlook of a Government about crypto. Crypto is banned in many countries. The Syrian Govt. has taken courageous step to validate crypto. This is the victory of cryptocurrency. As a crypto enthusiast, I can say- this is laudable. Thanks for your information. 

[Raqeebzy 6456]

Economic turmoil has been the other of the day in Syria mainly due to its security challenges since more than a decade. I believe cryptocurrency has been seen as the only and permanent solution to revive the economy back to its feet. However, it is going to be a long process and some laws need to be bend a little to accommodate it fully.

[Ramz99737 1196]

This is good news for the Syrians. This will help the Syrian economy grow and improve the people's livelihood there. I wish the Syrians the best and a decent life.

[Abuzar hashmi 544]

All countries are trying to.make their owm digital currency .Now syria which is an Arabic country and makes his own recognized digital currency which is reallu a appreciating thing.They can increase their maket and can earn billion of dollars by this which is really a good thing.

[Teminali69 1081]

This idea of replacing dollar with crypto is getting serious, i also read somewhere that European banks were discusing about replacing dollar as an international payment system with bitcoin.

[Abuhassan 89]

Syria has taken the lead to first launch it first digital currency over all countries in the middle east I hope this will serve as an avenue to curtail the economic instability they face in their country.

[tienda 8776]

This is good news for Syrian citizen. But I have a question, these countries with crisis right now, if they are not in crisis, do you think will adopt cryptocurrency? Or they are adopting it because they have not other choice. I'm sure and without the doubt the cryptocurrency is a solution to resolve their problem economic.

[Ameralsamt 2558]

It is very wonderful, a country like Syria is suffering from crises and economic pressure, is making progress like this, this means that Syria is a contemporary and developed country, it has a people who love technology, and 30% of the Syrian people work in the field of cryptocurrencies, and that is a good thing. 

[zhoutong 2188]

I had no knowledge about that, it seems there is a private company that wants to establish this digital currency but if it is not accepted by their government it won't become a national digital currency. Also having a private company will mean they will be in control of the digital asset. This is not about cryptocurrencies either and the cbdcs are efforts to create a digital fiat that will be still fiat based on the trust in your government.

[zagzag 320]

Digital currencies and cryptocurrencies are separate currencies. I think some CryptoTalk members have confused these concepts. Therefore, I would like to give brief information on this subject.

 

Digital currencies are coins that are stored electronically and can be transferred. The digital money in our bank account is a representation of paper money.

 

Cryptocurrency statement, created by combining the words crypto and currency, means encrypted money. Crypto money; It refers to the virtual currency that is used via the internet and is not connected to any central authority or intermediary institution.

 

Digital values that allow the virtual money supply are called cryptocurrencies. Cryptocurrencies are alternative currency, they are digital and they are also virtual money. Cryptocurrencies, unlike central electronic money and banking systems, are decentralized. Control of this decentralized structure is carried out by BlockChain transaction databases.

 

Ranking is; electronic coins - digital currencies - virtual currencies - can be expressed as cryptocurrencies.

[selfmade 7]

I is real crossing my mind that many big countries including china and USA are trying to  create their own coin and coins which are centralized.. what could they be after?

[Sykkuno 2887]

Very interesting but also probably something that as a private effort means this coin will be centralized, so I'm not interested and I don't think it will help, what people need and not governments it is a decentralized cryptocurrency and we have one already, this is Bitcoin, anything else will either be fiat or private owned cryptocurrency in the form of Ripple.

[joemcgwa 3227]

I cannot agree that if Syria is the first Arab country to establish crypto currencies, because I know Qatar are interested are using crypto currency for a long time.

[Cleaner 2549]

On 5/26/2020 at 10:41 AM, Whited35 said:

Syria is that country which has been facing domestic terrorism for a long time.It is pretty much impressive if they are planning to uplift their economic state by adopting cryptocurrencies. I think they will work very hard to make their cryptocurrency available even outside the Syria. 

If Syria adopts cryptocurrencies, their country will see the light of day.  However, they have taken steps to create digital currency.  I think it would be a good decision for them.  But they have to work hard for it.

[Whited35 15285]

10 hours ago, Cleaner said:

If Syria adopts cryptocurrencies, their country will see the light of day.  However, they have taken steps to create digital currency.  I think it would be a good decision for them.  But they have to work hard for it.

They are into it. Venezuela is making the progress of cryptocurrencies. Especially, stunning crypto craze is seen to the young Venezuelan lads. Similar track is being followed by the Syria and they are expecting the growth in their economic state by adopting the all possible ways. 

[Mfe 109]

This is nice and a good news if they can invent a digital crypto currency and this will also boast their economy, and this will help the citizens to develop and grow as well and this is one of the great things a country can have.

[Fkka 22]

I think that a quarter of this project needs some time to be implemented in addition to the huge amount of money. It is very nice to add a cryptocurrency for an Arab country to replace it with a foreign currency. I liked this topic a lot.
 

[ibrahim halil anaç 138]

I was very surprised when I read this news. It is unclear what will happen in Syria in the future. Syria does not establish trust with its administration and economy. It is absurd for such a country to issue its own digital currency before it has some work to handle. I do not think the digital currency of Syria will be long-lasting.