[2017-05-12] DNA: Palestinian officials hope to launch e-currency in 5 years

Palestinian officials hope to launch e-currency in 5 years

http://www.dnaindia.com/money/report-interview-palestinian-officials-hope-to-launch-e-currency-in-5-years-2436314

Palestinian officials are planning for the territory to have its own digital-only currency within five years, a move designed to safeguard against potential Israeli interference, the head of the Palestine Monetary Authority (PMA) told Reuters.

Palestinians have no currency of their own and use the euro, U.S. dollar, Israeli shekel and Jordanian dinar in their daily lives.

But with limited control over money supply and ultimately, inflation, authorities are mulling a bitcoin-style solution, Azzam Shawwa said.

"That is something we would like to see," Shawwa said. "It will be called the Palestinian pound."

Bitcoin is a global digital currency and payment system.