Iran launches Bitcoin insurance for Strait of Hormuz shipments

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Iran has launched the “Hormouz Seif” platform, which is a maritime security platform supported by the state and the Bitcoin platform, to protect cargo in transit through the Strait of Hormuz.

This procedure allows shippers subject to penalties to pay installments in encrypted digital currency immediately, which may open the door to billions of dollars in revenue from the new encrypted currencies in the global energy trade.

رحان يران الكبير على بيتكوين لمكترين حرمز

The Ministry of Economic and Financial Affairs of Iran launched the platform between 16-18 and 20 February for the coverage period directly when Bitcoin is confirmed, with the delivery of a digital receipt to the owners.

The official website stated that “Hormooz Safe is available for Iranian shipping companies and cargo owners quickly and easily accessible — it is paid with Bitcoin and quickly becomes a blockchain”.

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10 billion dollars revenue target amid sanctions

Iranian officials expect to achieve more than 10 billion dollars in annual revenue, officials expect the service to acquire a significant share of traffic through the most important corridor, which accounts for about 20% of the crude oil transported by sea worldwide.

The platform initially focuses on Iranian companies, but it reflects the broader ambitions of companies operating in the Persian Gulf that are looking for alternatives to Western-style insurance companies.

Coins that are encrypted are safe from punishment

تتختى “حرموز سيف” التفاميف traditional and SWIFT. This is part of Iran’s ongoing strategy to take advantage of its improved maritime routes.

Al-Middiq is a high-risk area, where insurance costs have risen due to Al-Tautariyah Al-Tautaraj. وتقدم “حرموز سيف” حلاً أصيلاً المشفرة المشفرة

The official website hormuzsafe.ir is still under construction, but it promises to provide full details soon.

Global shipping companies and regulators are closely monitoring compliance indicators, compliance risks, compliance, and potential penalties from secondary U.S. sanctions.

The success of this project may result from the combination of crypto-currencies in the maritime maritime trade and other schools subject to sanctions.

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