Exploring the Bank of Israelโs Digital Shekel Proposal ๐ฆ๐ธ
Are you curious about the latest developments in the world of digital currencies? The Bank of Israel is making waves with its innovative approach to the digital shekel. Letโs dive into the details of this groundbreaking project and what it means for the future of money!
Understanding the Concept of a Digital Shekel ๐ฒ๐ฐ
When it comes to digital currencies, the Bank of Israel is leading the way with its proposed digital shekel. Hereโs what you need to know:
- The digital shekel is a liability of the Bank of Israel to the public.
- It is designed to function similarly to physical cash, without the credit risk associated with traditional currencies.
- The digital shekel will be distinguishable from cryptocurrencies, offering stability in value.
Key Features of the Bank of Israelโs Digital Shekel Plan ๐๐
Letโs explore the key features of the Bank of Israelโs plan for the digital shekel:
- The digital shekel will enable transactions that are currently not possible with cash, such as e-commerce transactions.
- It will operate on a two-tiered model, allowing various entities to participate as Payment Service Providers or Additional Services Providers.
- The platform will be open to a wide range of participants, including traditional banks, payment companies, fintech firms, and consumer clubs.
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