Bank Of Israel Bypasses Bitcoin With Plans For Digital Shekel

Bank Of Israel Bypasses Bitcoin With Plans For Digital Shekel

2020 brought Bitcoin and other cryptocurrencies to the forefront of finance. Corporations have been buying, hedge funds are swapping gold for BTC, and banks and brands have taken a “can’t beat ’em, join ’em” stance against the emerging asset class. However, according to The Bank of Israel’s plan, the central bank will increase efforts around […]


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Digital Shekel: Israel’s CBDC Project Is Well Underway

Israel is the latest country to admit it’s been working in a Central Bank Digital Currency for a few years now. While giving a conference in the Fair Value Forum, Bank of Israel Deputy Governor Andrew Abir said that the institution he represents already ran a pilot program for the digital shekel. More than that, […]

Bank of Israel deputy governor confirms digital shekel pilot is underway

Despite the pilot, the central bank's deputy governor said he was apprehensive about launching a full-scale CBDC in Israel, and referred to Bitcoin as a "pyramid scam." The Bank of Israel has reportedly already issued a central bank digital currency through a pilot test of a digital shekel.According to a Monday report from the Jerusalem Post, Bank of Israel deputy governor, Andrew Abir, said the financial institution had started to conduct a pilot program for a digital shekel. Speaking at a conference of the Fair Value Forum of IDC Herzliya, Abir added that he was not optimistic about the....

Bank of Israel Drafts Model of a Digital Shekel

The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. The Israeli central bank digital currency (CBDC) will provide some privacy, but not anonymity. This Is What the Digital Shekel Should Look Like The Bank of Israel is getting ready to jump on the CBDC bandwagon with a plan to issue a digital currency of its own, after examining the issue for....

Bank of Israel claims 'public support' for its CBDC project

Stakeholders believe that the digital shekel would boost competition, but remain divided on the matter of privacy. Despite the fact that it still hasn't made a final decision on the launch of the “digital shekel,” Israel’s central bank reported that the public feedback on the project is mainly positive.According to Reuters, on Monday, The Bank of Israel summarized the results of the public consultation on its central bank digital currency (CBDC) plans. It has received 33 responses from different sectors, with half of them coming from abroad and 17 from the domestic fintech community. While....