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....
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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, […]
The Bank of Israel has experimented with using Ethereum and nonfungible tokens for a pilot as part of its ongoing digital shekel research, a local report claims. Israel's central bank has allegedly completed a pilot — under the radar — for a central bank digital currency (CBDC) using Ethereum's technology. The claim was made by the Israeli financial news site Globes and later reported by BNN Bloomberg.Globes' sources for its claims are not disclosed: the report alleged that the Bank of Israel (BOI) completed its pilot in an experimental, closed environment based on Ethereum's architecture,....
A survey carried out by the central bank of Israel has returned mostly positive responses from stakeholders regarding the possible issuance of a digital shekel currency. Many of the participants in the public consultations support the continued development of the project, the regulator said. Bank of Israel Releases Results From Consultations on Digital Shekel Project Israel’s monetary authority has recently published a paper detailing the outcome of public consultations held to gather opinions from interested parties on its central bank digital currency (CBDC) project. The regulator....
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....
The bank has been exploring the introduction of a CBDC since 2017. The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency.In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, or CBDC, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.”The central bank said it may consider issuing a CBDC if....