Investigations about the blockchain technology in Iran have been held and are nearing completion, said Secretary General of the Central Bank of Iran Mohammad Talebi.

Axar.az reports citing IRNA.

He said that structures related to the blockchain technology are envisaged to be created in Iran’s Central Bank.

He added that cryptocurrency is based on the blockchain technology. However, the blockchain technology, apart from cryptocurrencies, also has other financial spheres of application, he said.

"Investigations are underway regarding the decision of the Central Bank of Iran on the blockchain-based national currency," he said.

He noted that that the cryptocurrency requires special conditions and it isn’t necessary to make quick decisions in this sphere.

"Presently, the countries are moving towards creating national cryptocurrencies," he said. "This will also create certain changes. Investment markets are also moving towards using the means based on the blockchain technology."