[2017-05-17]Palestine To Launch Its Own Digital Currency

[Vladdirescu87]

To safeguard itself against Israel interference, Palestine Monetary Authority consider creation of local digital currency within 5 years.

According to the report, due to the lack of the national official currency, citizens have to use Israeli shekel, Euro, US dollar, Jordanian dinar. The head of the Palestine Monetary Authority, Azzam Shawwa, told in the interview during the meeting of the European Bank for Reconstruction and Development in Cyprus, that local government consider creation of digital currency, similar to Bitcoin, to solve this problem.

You can read the full article and take part in the discussion here: https://coinidol.com/palestine-to-launch-its-own-digital-currency/

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[darkangel11]

Why not just accept bitcoin instead of making their own? They probably think it's in control of the Jews... We can expect attacks Jewish hackers will mess around with Palestine's new currency Making a new alt issued by a government of a country is definitely something huge, people will be mining and buying it like crazy, but the question is do we really need everyone to make their own alts?

[richardsNY]

Why not just accept bitcoin instead of making their own? They probably think it's in control of the Jews... We can expect attacks Jewish hackers will mess around with Palestine's new currency Making a new alt issued by a government of a country is definitely something huge, people will be mining and buying it like crazy, but the question is do we really need everyone to make their own alts?

Adopting Bitcoin would be an easy an beneficial option, but they will obviously not go for that option. Mainly because of the fact that they strive to be the central point of everything. That being said, them coming up with their own digital currency will not mean it will be totally similar to how current altcoins are. It will likely be a system where the government can issue tokens based on what they think the demand is asking for. A system that will allow them to block/freeze a certain balance instantly if they so wish -- no freedom whatsoever.