Prioritizing Key Factors for the Development of a National Cryptocurrency in Iran: A Multi-Criteria Decision-Making Approach

Subject Areas : Operation Research

Maryam Marefat ¹ , Rahim Dabbagh ²

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Received: 2025-01-08 Accepted : 2025-01-20 Published : 2025-01-13

Keywords: National cryptocurrency, Blockchain, Best-Worst Method, Multi-criteria decision-making, Financial policy-making, Resistance economy,

Abstract :

Cryptocurrencies and blockchain technology have transformed the global financial landscape, offering strategic opportunities for nations. This study explores the key factors influencing the establishment of a national cryptocurrency in Iran, aiming to reduce dependency on foreign currencies, counter economic sanctions, and strengthen the national economy. Through a comprehensive literature review and experts’ opinions 10 effective factors on developing national cryptocurrency in Iran were selected. Then, using the Best-Worst Method (BWM), the identified factors were prioritized based on their significance. The average opinions of 19 experts were utilized to construct the inputs of the BWM. The results highlight government support and financial policy-making, resistance economy, and economic stability as the most critical factors. Additionally, blockchain infrastructure development, cryptographic technologies, and international collaborations were identified as important contributors. The findings emphasize the need for a clear legal framework, secure transactions, and public awareness to ensure success. This study offers actionable recommendations for policymakers, including drafting transparent regulations, developing native stablecoins, investing in infrastructure, and enhancing international trade relations, providing a roadmap for developing a sustainable national cryptocurrency.

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