The Israeli authorities intend to carefully study the blockchain and find its application in the interests of the state.
The Israeli Ministry of Finance, together with the Tel Aviv Stock Exchange (TASE) and the digital asset custody service provider Fireblock, as well as the US software developer VMware, will begin testing a blockchain-based digital bond trading platform based on the blockchain. The bonds will be issued by the Ministry of Finance.
The project was called “Eden” and its main goal is to optimize the issuance of national bonds. According to Chief Treasurer Yali Rothenberg, blockchain-based technologies are forever entrenched in our lives and will eventually become an essential part of financial markets. Therefore, the Israeli government intends to carefully study the technology and find the best use for it.
During the pilot launch, project participants will receive a series of tokenized government bonds to their e-wallets through the project platform. What specific cryptocurrencies will be used is still unknown. The project is reported to be completed by the end of the first quarter of 2023.
In August, a law came into force in Israel that recommends the use of alternative digital payment methods and prohibits transactions in cash and bank checks in large amounts.
Source: Bits
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