Israel might be launching its own private Bitcoin in a few years.
The Bank of Israel is looking to issue a digital currency to create a faster payments system as well as reduce the country’s reliance on cash, according to an anonymous source that spoke to Reuters. However, the project has not been finalized yet.
If the central bank gives the project a green light, the country’s government is ready to include it in its 2019 budget.
This national cryptocurrency would be very different from Bitcoin, however. Reuters’ source claims it would be centralized, safe and in accordance with Israel’s money laundering rules. Bitcoin, in contrast, is decentralized and anonymous. Read more…