Yoav Soffer News Today

This first-of-its-kind convening of leaders from international financial institutions, central banks, businesses, technology providers, and governments aims to establish an understanding of the issues countries must consider before issuing a CBDC.

The advisor to the deputy governor at the Bank of Israel said the technology is very scalable and “once you build it for three countries, you could build it for 180 countries.”

Bank of Israel shares results of joint cross-border central bank digital currency (CDBC) research project, which paves path for potential issuance of digital shekel

The Bank of Israel is sampling the opinion of interest groups in its bid to create a viable national digital currency.

For now, central banks around the world are still working on developing and testing their own CBDCs, but there are new ones that are joining the race all the time. The Bank of Israel, for example, reportedly just launched a cryptocurrency pilot program of its own, with plans to create a CBDC using Ethereum’s network. […]

The central bank of Israel chose Ethereum's network to launch the stages of its CBDC trial program.

Although the Israel CBDC project is in its initial stages, a new report has revealed that the bank is looking to the Ethereum blockchain

In its digital currency pilot program, the central bank is having to confront tricky technical, financial, and even moral questions.