{"id":4621,"date":"2021-06-26T22:55:06","date_gmt":"2021-06-26T21:55:06","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4621"},"modified":"2021-06-26T22:55:10","modified_gmt":"2021-06-26T21:55:10","slug":"is-this-what-it-seems-israel-are-exploring-crypto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/is-this-what-it-seems-israel-are-exploring-crypto\/","title":{"rendered":"Is This What It Seems? Israel Are Exploring Crypto"},"content":{"rendered":"\n
Both states are investigating crypto<\/a> at the same time, but for different reasons.<\/h5>\n\n\n\n
\"Is<\/figure>\n\n\n\n

Although Palestine and Israel are no closer to peace, they do have one thing in common: they are both researching digital currency<\/a>.<\/p>\n\n\n\n

According to Bloomberg, the Palestinian Monetary Authority has initiated two feasibility studies exploring the creation of a Palestinian digital currency.<\/p>\n\n\n\n

Palestine's digital currency would diminish the country's reliance on the Israeli shekel, which it has used since the Paris Protocol on Economic Relations with Israel was signed in 1994.<\/p>\n\n\n\n

Palestine pledged not to issue its own currency as part of the agreement. The Protocol was signed with the expectation that the states would work toward a two-state solution over the next five years.<\/p>\n\n\n\n

The negotiations haven't developed much in nearly three decades. The Palestinian economy still relies on the Israeli shekel, the US dollar, and the Jordanian dinar, and a substantial portion of Palestine remains under military embargo.<\/p>\n\n\n\n

State-backed digital currencies, also known as central bank digital currencies (CBDCs), aren't always based on blockchain, but they may be inspired by the distributed ledger technology that it popularized.<\/p>\n\n\n\n

\u201cThe macroeconomic conditions do not exist to allow a Palestinian currency\u2014digital or otherwise\u2014to emerge as a means of exchange,\u201d Raja Khalidi, director of the Palestine Economic Policy Research Institute, told Bloomberg.<\/p>\n\n\n\n

Should Palestine, on the other hand, establish its own currency, it would \u201csend a political signal to exhibit semblance of monetary autonomy from Israel.\u201d<\/p>\n\n\n\n

Meanwhile, Israel is investigating its digital money in West Jerusalem, and it is much further advanced in its studies. The state decided in May that a digital shekel would be beneficial to its economy.<\/p>\n\n\n\n

The Bank of Israel said this week that it is testing Ethereum for its own CBDC<\/a>.<\/p>\n\n\n\n

While the two opposing governments in Jerusalem investigate central bank digital currencies, radicals in Gaza have used decentralized cryptocurrency to completely bypass the government.<\/p>\n\n\n\n

After the battle in Gaza erupted in 2007, Hamas established itself as the de facto ruler. Despite being widely regarded as a terrorist group, it is in charge of Palestinian education and health in the conflict-torn territory.<\/p>\n\n\n\n

During last month's two-week confrontation with Israel, the organization saw an increase in Bitcoin <\/a>donations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Both states are investigating crypto at the same time, but for different reasons. Although Palestine and Israel are no closer to peace, they do have one thing in common: they are both researching digital currency. According to Bloomberg, the Palestinian Monetary Authority has initiated two feasibility studies exploring the creation of a Palestinian digital currency. […]<\/p>\n","protected":false},"author":13,"featured_media":4622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,21],"tags":[152,132],"class_list":["post-4621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","category-news","tag-bitcoin","tag-crypto"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/06\/image-52.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4621"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4621\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4622"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}