Sadegh Al-Hosseini, Economist at the Ramz-Atei Event:

My Prediction for the Future of Cryptocurrencies is Positive

Sadegh Al-Hosseini, an economist, stated at the National Digital Currency Event: "My prediction for the future of cryptocurrencies is positive. It is both an opportunity for those who understand it and a threat for those who do not and want to remain in their traditional structures."

News ID: ۲۰۰۰۴۵۰

08 December 2024

EghtesadOnline: Sadegh Al-Hosseini, an economist, shared his analysis of the world in the next 10 years at the *Future Economics of Cryptocurrencies* panel during the National Digital Currency Event. He said: "Yesterday, we discussed governance, and I don’t want to delve into that area. I will just repeat the numbers I gave yesterday. Iranians hold between 30 to 50 billion dollars worth of cryptocurrencies, which is about one-third of Iran’s capital market. This is a large amount, especially for a market with high risk. The second point is the transaction volume, which is 10 trillion toman daily in crypto buying and selling in Iran, with 2 trillion toman resulting in rial settlements."

He continued: "The government should aim to increase cryptocurrency transactions, and the way to achieve this is by granting purchase rights from local exchanges. It would also be better for the Central Bank not to issue licenses in this area, as it would lead to market distortion and, consequently, the government would have to bear the losses. The government has accepted this and is moving towards forming a union, which is good news for the domestic cryptocurrency market."

Al-Hosseini emphasized: "When it comes to the future, throughout history, there have been six main trends, and no more. One is the trend of energy—there was a time when people used oxen, coal, steam, and so on. The second trend is intellectual change, which involves changes in human thought and thinking across the world."

"The third trend is transportation, which is a game-changer for the economy. These few changes have completely transformed the world and the economy. The next trend is the movement of information, from the time when smoke signals were used to the advent of telegrams and telephones. After that comes the trend of work, and the last trend is money. If we say that cryptocurrency is a trend, we must examine these trends together and then analyze them."

This economist confirmed: "When we look at these six trends, we can see that they have led to major revolutions, all of which reach one common point: all trends in every field are moving towards decentralization. We have reached a point where, with renewable energy, central energy management becomes meaningless. Right now, we can generate potential energy using solar power, which would cost only 12 billion toman, whereas using conventional power plants would cost ten times that."

He added: "My prediction for the future of cryptocurrencies is positive. It is an opportunity for those who understand it and a threat for those who do not and want to remain in their traditional structures."