Design and validation of a model for the use of blockchain technology and cryptocurrencies under sanctions of Islamic of republic of Iran.

The use of cryptocurrencies is a creative and technology-based way to circumvent unilateral sanctions against Iran. Due to the importance of this issue, this article was compiled with the aim of designing and validating the pattern of using blockchain technology and cryptocurrencies in the conditions of sanctions. The present study is a cross-sectional survey in terms of applied purpose and in terms of method and time frame of data collection. The statistical population includes managers and senior experts of the Central Bank, the Ministry of Industry, Mines and Trade and the Ministry of Economic Affairs and Finance. The sample size was estimated to be 384 using Cochran's formula and sampling was done by simple random method. The data collection tool was a questionnaire that was validated by structural validity, convergent validity and divergent validity. Using Cronbach's alpha and combined reliability, the reliability of the questionnaire was assessed as desirable. The partial least squares method and Smart PLS software were used to validate the pattern of application of blockchain technology and cryptocurrencies. Finally, the indicators of using blockchain technology and cryptocurrencies were prioritized by Savara method. According to the results, the financial sanctions of the Islamic Republic and the threats of virtual currency are the underlying elements of the model that have a direct impact on risk management. Risk management also affects the technological infrastructure and management of virtual currency information, and thus strategic strategies can be developed.