[2017-12-25] Israel to Issue Digital Currency

[Rick Nolan]

The Bank of Israel is considering issuing digital currency in order to create a faster payments system as well as reducing the amount of cash in the economy, a central bank source said on Sunday. The source added that no decision had yet been made and the Bank of Israel declined to comment on the issue.

The Israeli government has been seeking to limit the amount of cash in the economy for a few years since the black economy is estimated at some 22% of national output.

Read more: https://hype.codes/israel-issue-digital-currency

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[BitHodler]

I like how crypto in general is pushing governments to come up with all this. Imagine how things would have been if there was no crypto at all. I am quite sure that we would continue to use fiat for many more decades.

I am thankful to have Bitcoin in my life. It allows me to operate outside the banking system, and at the same time avoid governmental tyranny. For that reason people will never add much value to governmental issued crypto's.

They are nothing more than an updated form of the traditional currencies, but still with all its negative aspects intact. Definitely not something that can even slightly challenge our crypto currencies.

[MadGod11]

Bitcoin To me is the best currency ever but when i see some goverments trying To control The use of this currency at that moment i begin To wonder a bout the future of this or it will be under control or those goverments.

[J. Cooper]

After Dubai announced that they're working in a state issued digital currency, Israel is doing same thing. Thus only illustrates that blockchain technology and digital currencies aren't going anywhere. Governments will be forced to keep up with the recent development sort they will simply fall behind. How state issued currencies will influence decentralized currencies is still to be determined.

[richardsNY]

Bitcoin To me is the best currency ever but when i see some goverments trying To control The use of this currency at that moment i begin To wonder a bout the future of this or it will be under control or those goverments.

No need to worry about that with Bitcoin. The only thing they can do is to tightly regulate this market, and that's what they are doing slowly but surely. It will definitely change this market, and especially the exchanges, but that's something we just have to deal with. If you can't deal with it, or just find it not fitting, you can choose to make use of decentralized exchanges and focus on the peer to peer market. I strongly believe that the peer to peer market is only going to grow larger due to all these regulations, and if we look at how everything goes right now, it has already been growing significantly.

[iamTom123]

I like how crypto in general is pushing governments to come up with all this. Imagine how things would have been if there was no crypto at all. I am quite sure that we would continue to use fiat for many more decades. I am thankful to have Bitcoin in my life. It allows me to operate outside the banking system, and at the same time avoid governmental tyranny. For that reason people will never add much value to governmental issued crypto's. They are nothing more than an updated form of the traditional currencies, but still with all its negative aspects intact. Definitely not something that can even slightly challenge our crypto currencies.

This is actually a big recognition of the fact that cryptocurrency is the face of the future of money otherwise there will never be a single Central Bank thinking of also joining the party. In my own view, a government-sponsored and issued cryptocurrency is nothing but just the digital version of the national currency nothing more nothing less the big difference is that it would be more convenient to use it. We should never expect the same level of excitement attached to Bitcoin when a country will have its own crypto because I am sure the Central Bank will not allow the coin to experience heavy volatility and they might be issuing unlimited amount of coins unlike the Bitcoin which has a fixed supply. Anyway, I am a supporter of Israel so good luck to them.

[cybersofts]

This is the welcome development for bitcoin community and everyone in the cryptocurrency ecosystem.  Let them all create their coins, bitcoin will remain the king and will continue to rule the cryptocurrency world because it is not issued or controlled by any government out there. bitcoins is peer to peer currency and fully decentralized. 

[darkangel11]

A government issued cryptocurrency = a controlled and centralized one. I hope you all realize that and aren't hyped too much.
I'm sure they see the possibilities as cryptocurrencies are at another level when it comes to safety and speed of transactions, but by using their crypto you will become dependent on their political, financial, and military situation and that situation is really unstable, especially now when they moved their capital.
If Jerusalem gets nuked by some suicidal maniac BTC will remain unaffected, but their centralized coin will take a dive.

[vit05]

It is always important to say that DIgital Currency is something that includes Cryptocurrency, but it is not the same.

Bitcoin is a digital currency that uses crypto technology and is based on Blockchain. The coins that you receive in online games are digital currency too, but it can't be compared to all this cryptocurrency revolution.

The same could be said about this new Digital Currency that some government wants to build. It is almost the same as fiat, but it doesn't use paper. The same bullshit.