This allows people to bypass traditional foreign exchanges and international bank transfers, that can takes days or weeks to process the transfer of funds between countries.
It also offers a solution to millions of people that live in countries that are affected by international sanctions. The likes of Iran have had to endure the consequences of economic isolation for years, which affects the day to day lives of its citizens.
In 2015, Iran had economic sanctions lifted after the country agreed to dial down its nuclear programme to meet standards set out by International Atomic Energy Agency (IAEA).
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