Israel has announced plans to release a digital shekel

The Israeli authorities have announced their intention to issue a central bank digital currency (CBDC). We are talking about an electronic shekel, which has the ability to generate interest income.

According to the information provided, the project is implemented through a two-level model. It will be able to support round-the-clock instant payments, offline usage, various payment systems and will have other functions.

In addition, the government has provided for the possibility of converting the digital shekel into an interest-free currency. Financial institutions will be able to use the new CBDC as a short-term liquidity buffer that will not generate interest.

"With regard to confidentiality, the architecture will allow the central bank, as a system administrator, to determine the types of information necessary for the operation, control and monitoring of the system. However, he will not have access to personal information about the balances and transactions of end users," the Central Bank of Israel said in a statement.

Source: https://incrypted.com/yzrayl-objavyl-o-planah-vypustyt-tsyfrovoj-shekel/