Iranian central bank develops blockchain platform "Borna" for the financial industry

On May 2, Al-Monitor, an independent reporting and analysis platform for the Middle East and North Africa region, released a report showing that the Iranian central bank has been developing a platform called Borna to provide common standards for blockchain technology in Iran and to reduce development. The cost of blockchain solutions allows Iranian banking institutions and other financial entities to test and implement blockchains on a larger scale. The report revealed that the Iranian central bank blockchain solution platform Areatak and the information technology service company established a tripartite partnership to promote the blockchain platform "Borna". The platform will initially provide services such as electronic customer identification, token management and online auditing.