BMI Eyes Blockchain Potential

Sadad Informatics Corporation, affiliated with Bank Melli Iran, the nation's biggest bank, has formed a blockchain working group in order to tap into the vast potential offered by the new technology. "The SIC has seriously focused on the field of new and innovative technologies and aims to invest in open banking, artificial intelligence, cryptocurrencies and blockchain to boost and develop its services," SIC chief executive Hamidreza Mokhtarian was quoted as saying by IBENA. He emphasized that the fourth industrial revolution is something that Iranian banks simply cannot afford to ignore, advising them to start building their futures based on blockchain, artificial intelligence and the Internet of Things. "Everything is moving toward digital strategizing and the SIC as a leading group in Iran's information technology field will continue to move toward implementing [international] standards in these fields," Mokhtarian said.