A CONCEPTUAL MODEL OF INDICATORS FACILITATING THE USE OF CRYPTOCURRENCIES IN INTERNATIONAL TRANSACTIONS IN SANCTION SITUATIONS

In recent years, international sanctions have restricted financial and banking transactions in international financial systems, which have led to the failure to return foreign exchange earnings. Under sanction situations, exporting and returning the earning into the country is the country's top priority in international trade. The use of cryptocurrencies can be a good platform for overcoming financial and banking sanctions. The purpose of this research is to identify the facilitation indices needed for the use of cryptocurrency in international transactions to overcome financial and banking sanctions. For this purpose, the three-round Delphi study is used to elicit expert opinions. Kendall’s W coefficient was calculated to identify the concordance of experts’ opinions in determining the indicators. The statistical sample of this research includes twenty-one experts from industry experts, academic members and IT specialists. Six indicators were identified and prioritized including legislation of cryptocurrency regulations, creating software and hardware, creating national cryptocurrencies, promoting use of cryptocurrency, and support for cryptocurrency mining. The indicators presented in the research can help Iran government and sanctioned international businesses to overcome financial and banking sanctions.