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Bookmarking Crypto InsightsWed, 27 Dec 2017 16:00:54 +0000en-US
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3232Israel Weighs “Digital Shekel,” Its Own National Cryptocurrency
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Wed, 27 Dec 2017 16:00:54 +0000https://www.digit.info/2017/12/27/israel-weighs-digital-shekel-its-own-national-cryptocurrency/Read more]]>Israeli officials are debating whether or not to create their own cryptocurrency, joining a growing list of governments that have proposed their own state-sponsored digital currencies in 2017. Israel Debates the Merits of Crypto The Israeli government may create its own “digital shekel,” according to sources close to Israel’s Finance Ministry. The discussions are part of an effort to curb the black market activity that comprises 22% of Israel’s GDP. Officials hope the digital shekel would reduce the use of cash in the economy, a payment option to which Israel’s underground has taken a liking in order to avoid taxes. Such evasion causes Israel
Israeli officials are debating whether or not to create their own cryptocurrency, joining a growing list of governments that have proposed their own state-sponsored digital currencies in 2017. Israel Debates the Merits of Crypto The Israeli government may create its own “digital shekel,” according to sources close to Israel’s Finance Ministry. The discussions are part of an effort to curb the black market activity that comprises 22% of Israel’s GDP. Officials hope the digital shekel would reduce the use of cash in the economy, a payment option to which Israel’s underground has taken a liking in order to avoid taxes. Such evasion causes Israel