Iran rolled out something called Hormuz Safe… a state-backed maritime insurance setup for vessels operating in the Persian Gulf and Strait of Hormuz. Payments and settlements can be done with Bitcoin and other crypto.

The platform handles digital certificates and faster processing. It’s clearly designed to work around normal banking channels and SWIFT, especially with the tensions in the region. That strait moves a huge amount of the world’s oil and LNG, so anything affecting shipping there tends to matter.

I’ve been watching oil and shipping-related moves through futures and CFDs lately, and It’s one of those cases where Bitcoin shows up in actual day-to-day operations…

Not sure how big it gets… What do you guys make of it?

submitted by /u/Feisty-Rhubarb-6718 [link] [comments]

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