Bank of Israel Unveils Possible Design of 'Multipurpose' Digital Shekel

Quick Summary:

While their proponents argue they are a tool for financial inclusion and a means of future-proofing fiat currencies against the decline in cash usage, they are also criticized by those who see them as a Trojan horse for reinforcing state control over the use of money.

Therefore, the design presented by the paper should only be considered a preliminary one.

The central banks of almost all the developed economies across the world have at least been exploring the possibility of issuing a CBDC for several years.

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Article Details

Author / Journalist: Jamie Crawley

Category: Crypto

Markets: United StatesCubaIsrael

Topics: Policy Bank of Israel CBDC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-04 @ 16:21:19 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 228 words

Reading Time: 2 minutes read

Sentences: 21 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 26665933

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