Policy
Iran's Ministry of Economy Launched a Bitcoin-Settled Insurance Scheme for Strait of Hormuz Cargo on May 16 — and the State Wants Ten Billion Dollars a Year From It
Iran's new Hormuz Safe platform offers cryptographically verified insurance certificates against vessel inspection, detention and confiscation — payable in bitcoin. The revenue target is $10 billion a year. CoinDesk and Bloomberg cannot confirm that a single policy has actually been sold.
·Tom Chen