Researchers of the Central Bank of Israel called the benefits of the digital shekel – Bits Media

The Central Bank of Israel has begun to actively explore the possibility of issuing its own digital currency, and also identified the goals and benefits of the digital shekel.

Previously, the Central Bank was configured against the launch of such assets, Considering, what they carry many risks and may pose a threat to the financial system. Deputy Manager of the Central Bank of Israel Andrew Abir (Andrew Abir) stated, that the bank was forced to change its policy regarding national digital currencies, Given the interest of other central banks in state stablecoin.

Israeli Bank Carnette Flug (Carnit flight) reported, that the regulator is at the stage of studying options for using digital shekel, And for these purposes, a special working group was even created. However, Flug emphasized, that the Central Bank has not yet given the final consent to launch digital Shekel. At least, It should not be expected in the coming years.

Nonetheless, Researchers of the Central Bank of Israel called the advantages of the release of digital currency. Primarily, It can become an effective and safe alternative to existing payments, so that financial systems can better adapt to the era of digital technology. The transition to digital shekel will also allow you to uninterruptedly carry out calculations even in case of any failures or unforeseen situations.

Researchers of the Bank of Israel also came to the conclusion, that using state cryptocurrency, international payments will be made much cheaper and faster, At the same time, a certain level of confidentiality will be preserved for users. Digital Shekel will also reduce the use of cash and help the state in the fight against the shadow economy.

Recall, that this month the central banks of Georgia and Kazakhstan also began to study the possibility of launching their own digital currencies, to increase the availability of financial services for the population.