Bank of Israel tests digital shekel on Ethereum blockchain

The Central Bank of Israel has launched a pilot project to test the digital shekel based on the Ethereum blockchain, Bloomberg reports, citing a Central Bank spokesman.

There is still no official statement on the development or testing of the digital shekel on the Bank of Israel website.

In May, central bank officials released a report in which they noted that the digital payment system could positively impact the country’s economy through faster, simpler and safer payment processes.

Recall that the Ethereum platform was the first among all crypto projects, which provided users with the opportunity to create new cryptocurrencies based on their blockchain.

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