Ranking the Challenges of Cryptocurrency Development in Iran

Document Type : Original Article

Authors

1 Ahlul Bayt international university

2 Faculty of Business and Management, UCSI University, Kuala Lumpur

Abstract
The emergence of cryptocurrencies in recent years has been a novel phenomenon in the realm of digital economics, presenting opportunities and challenges for countries. The main aim of this study is to examine the challenges of developing cryptocurrencies with an emphasis on the Government Transformation. From the perspective of purpose, it is applied research, and in terms of subject matter, it falls within descriptive research. The data collection method used in this study was field-based through a questionnaire. In the first stage, challenges related to the development of cryptocurrencies were identified through library research using the Government Transformation document; subsequently, these challenges were formulated into a questionnaire and evaluated by experts using the Analytic Hierarchy Process (AHP). Finally, with the help of Expert Choice software, these challenges were ranked. The study results which is validated by a strong inconsistency rate of 0.06 indicate that, when prioritizing the main challenges, the weakness in macro-management of cryptocurrencies holds the first rank with a coefficient of 0.429, while the increasing share of hidden mining in the total cryptocurrency production market in the country sits at the last rank with a coefficient of 0.114Given the ranking of challenges and the identification of weakness in macro-management as the main problem, policymakers must immediately proceed to establish a unified and powerful command structure and prioritize full clarification of responsibilities. Simultaneously, to mitigate social risks and maintain stability, protecting small capital and safeguarding public trust in the financial system must be integrated as core strategies in planning.

Keywords

Subjects