E-shekel moves towards replacing paper money in Israel

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(Worthy News) – According to the Bank of Israel report from May 2021, Israel is considering launching an Ethereum (ETH)-based e-shekel. on the potential issuance of a digital shekel with no given launch date.

Bloomberg reported that Yoav Soffer, the head of the Bank of Israel’s digital project, stated that “it is an ongoing process, even though the digital shekel is still in its developmental stage and no specific date has been fixed for the launch.”

Soffer added, “Right now, we are increasing the resources devoted to the digital shekel project, both in terms of finances and people. A digital shekel has great potential to increase competition and innovation within the payment industry.” [ Source: World Israel News (Read More…) ]

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