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Bank of Israel seeking to adopt cryptocurrency

20 Jul, 2018
by Arthur Sillers
News
Bank of Israel seeking to adopt cryptocurrency

Dr. Bodo-Trachtenberg, the Deputy Governor of the Bank of Israel at the Bit2c Coin Conference today spoke optimistically about Israel's future use of crypto, according to Finance Magnates.

 Bodo-Trachtenberg emphasized the value that giving users control over their financial data and technological decentralization as the main motivating factors that would lead Israel to adopting blockchain technology in their central banking operations. The Deputy Governor went on to say that cryptocurrencies have the ability to break down finanial monopolies and level the fiscal playing field in terms of access to technology.

These new statements follow requests last month by Israeli bank associations calling for the Bank of Israel to publish guidelines and regulatory plans for cryptocurrency in the country, according to Ctech.

As reported yesterday, Bitmain, a huge Chinese Bitcoin mining firm has centered its operations in Israel, expanding its research base and seeking around 40 new researchers and blockchain experts for its office in Ra'anana.

 Public and Governmental interest in blockchain technology in Israel might make the country a prominent player in the cryptosphere moving forward.

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