Central Bank Considers Digital Currency for Instant Payments
Bank of Israel Digital Currency
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The Bank of Israel is reportedly considering issuing a digital currency to support a real-time nationwide payments system.
In its advent to research and foster a real-time payments system in the country, the Bank of Israel sees a central bank-issued digital currency as an option for an effective and reliable infrastructure for immediate payments. For context, the Bank of Israel published a public consultation paper [PDF] on November 15 that sought proposals for a payments infrastructure, either “centralized or distributed – that will support immediate payments in Israel.”
As Reuters reports, an anonymous Bank of Israel source has now confirmed the central bank is examining the possibility of issuing a blockchain-powered cryptocurrency for a faster payments infrastructure.