Israel starts digital shekel pilot

The Bank of Israel is launching the so-called Digital Shekel Challenge, inviting diverse sectors to develop applications for a potential central bank digital currency. The Bank of Israel is moving forward with its digital currency, also known as the digital shekel, this time announcing the “Digital Shekel Challenge,” an initiative aimed at exploring the potential development and applications of a central bank digital currency (CBDC). According to a press release shared with crypto.news, the Bank of Israel wants to test the digital currency through a technological prototype that simulates the core system of the digital shekel and its API layer.

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