Israel is preparing its own cryptocurrency

The cryptocurrency market has shaken the economy of Israel. Yesterday, the Prime Minister, Benjamin Netanyahu, announced the inadmissibility of popularizing Bitcoin in the country and the terrible consequences for banks. And today, the country's Ministry of Finance is considering introducing its own cryptocurrency into circulation.

Israel is preparing its own cryptocurrency

According to official statements, electronic shekel is planned to be put into circulation in the near future. According to statements by top officials of the country, such actions are explained by a decrease in cash and the transition to digital currency. It is not planned to limit electronic shekels - Israeli citizens are free to convert currencies, as well as carry out financial transactions.

What is noteworthy, the introduction of state-owned cryptocurrencies 2 a month ago was announced by Chinese financial experts who predicted the introduction of their own digital currencies in developed countries, where cash turnover is inferior to non-cash. And here are the first flowers - Israel, Sweden, Denmark.

It is not clear what benefit will be for the residents of the country, because the exchange rate is planned to be set at the level of their own monetary system, and the state will act as a regulator. It immediately becomes clear "who" is behind the innovation.