#digital shekel

[coinatory]

The Israeli central bank wanted to create a digital shekel (CBDC)

The Bank of Israel is preparing an action plan for the potential issuance of a digital shekel (SHAKED), despite the fact that a decision has not yet been made as to whether the Bank intends on doing so. The questions of the circumstances under which it would be decided to issue a retail CBDC is a complementary important discussion to the significant work being done on the business and technological specifications. Several scenarios could lead to the creation of a digital shekel: Decline in the legitimate use of cash and its acceptance in transactions in Israel – According to our data, cash is still used in Israel in a significant portion of the consumer transactions. However, it is highly probable that the use of cash as a means of payment will decline in the future, with the expanding adoption of payment applications a

Read more on The Israeli central bank wanted to create a digital shekel (CBDC)

#altcoin #CBDC #cryptocurrency #cryptomarket #cryptonewstoday #digital shekel #news #regulations #shekel

[eurekadiario]

El banco central de Israel dice que el lanzamiento del shekel digital es una 'pregunta abierta'

El banco central de Israel está impulsando sus planes para emitir un shekel digital, citando la necesidad de mejorar los sistemas de pago del país, pero el martes no se comprometió sobre si se lanzaría uno.

En noviembre de 2021, el Banco de Israel intensificó su investigación y preparación para la posible emisión de un shekel digital para crear un sistema de pagos más eficiente después de considerar por primera vez la emisión de una moneda digital del banco central (CBDC) a finales de 2017.

"Si emitiremos o no un shekel digital sigue siendo una cuestión abierta, como lo es en la mayoría, si no en todas, las demás economías avanzadas", dijo el gobernador del Banco de Israel, Amir Yaron, en una conferencia sobre monedas digitales.

"De cualquier manera, seguimos comprometidos a estar en la frontera, y más que eso, a apoyar el esfuerzo de empujar la frontera, en nuestras exploraciones de CBDC, así como en nuestros esfuerzos por modernizar y hacer avanzar nuestros sistemas de pago… y la sistema financiero en general", dijo Yaron.

El banco central de Israel ha estado experimentando con un shekel digital con su homólogo de Hong Kong y el Banco de Pagos Internacionales. Dijo que el llamado proyecto Sela ha demostrado la viabilidad de una CBDC minorista y "combina accesibilidad, competencia y ciberseguridad preventiva, al tiempo que conserva las ventajas clave del efectivo físico".

Yaron dijo que dada la rápida digitalización de la economía, trabajar en una CBDC tiene sentido y señaló que Israel ha cerrado la brecha con otros países, al tiempo que enfatizó que si Israel opta por una, "proporcionará al menos tanta privacidad como los medios digitales". de pagos" y tal vez incluso un nivel más alto.

El vicegobernador Andrew Abir dijo que para Israel, la emisión de un shekel digital proporcionaría más competencia en un sistema financiero dominado por unos pocos grandes bancos e instituciones.

"La CBDC puede ofrecer igualdad de condiciones en las que los nuevos participantes puedan ofrecer productos financieros", dijo.

Abir dijo que un fuerte aumento de las tasas de interés en el último año demostró esta necesidad, ya que los bancos comerciales no transfirieron completamente los aumentos de las tasas a los saldos de sus clientes, mientras que en sus préstamos la transmisión fue total e inmediata.

"Y ha habido una reacción comprensible por parte del público", dijo Abir, añadiendo que una moneda digital podría beneficiar a los consumidores.

"Creo que los bancos centrales deberían volver a examinar la posibilidad (de) CBDC remuneradas, es decir, que el banco central pague intereses por CBDC directamente a los usuarios finales que las poseen y disfruten de la seguridad proporcionada por el banco central. Este es un tema complicado con muchas implicaciones, y necesitaremos considerarlas a medida que avance el proyecto", dijo Abir.

Informe de Steven Scheer; Edición de Alexander Smith y Mark Porter.

#banco #central #Israel #dice #lanzamiento #shekel #digital #pregunta #abierta

[the-garbanzo-annex-jr]

Israel’s southernmost resort city of Eilat now finally has a waterpark.

After four years of construction and 110 million shekels in investment, the Waterland park opened its doors to the public this week. The site stretches over more than 20 dunams, or five acres.

The developers say Waterland boasts some of the world’s most innovative water attractions, “with spectacular digital effects.”

The park encompasses several complexes: a water slide complex for adults, a complex for children, a computerized wave pool, food courts, an amphitheater, a conference hall and a spacious changing area.

YOU CAN GET ISRAEL21c NEWS DELIVERED STRAIGHT TO YOUR INBOX.SUBSCRIBE TODAY

The developers say the slide complex is the only one of its kind in the region. It includes three water towers, with the tallest clocking in at 24 meters (79 feet) high.

Visitors can purchase tickets for either daytime activities from 10am to 6pm, or nighttime activities from 8pm to 12am.

The park was originally supposed to open in spring of 2021, but the coronavirus pandemic resulted in the construction being delayed by nearly two years.

The waterpark was constructed at the spot of the Texas Ranch tourist location, which was often used as a film set. Years before the construction of the Waterland began, Texas Ranch was shut down and abandoned.

#eilat #water park #Youtube

[israelplays]

The Best IPTV Service in Israel for 2024

Watching television is a common way to pass time. Particularly following a strenuous day at work or an entire week. But the biggest disappointment is that you can sit comfortably on the couch after dinner and not find anything interesting among the TV shows on offer. This problem is not new and can be solved today. If everything remains unchanged, the TV will simply blend in as a piece of home decor, unused and unnoticed. To realize how much the present television does not fit the user with its content and the presence of a big number of advertising, it is worth familiarizing yourself with different options on the market.

The main problems of iptv in Israel

Cable TV remains the most common in Israel. The reason for this is the conservative attitude of people and the unwillingness to change anything. Many are also deterred by the fact that most providers provide access to the Internet along with the TV service. The disadvantages include an analog signal, which does not provide a high-quality picture on a modern TV. However, some companies offer cable TV digitally. Naturally, it will cost more. The next significant drawback is the content offered, which implies a list of TV shows. There might be a substantial number of TV channels, exceeding 100. But most of them are not in Russian, some do not work, and some are broadcast not even in Hebrew. The most irritating aspect is the excessive number of advertisements.

The Best IPTV Service in Israel for 2024

Internet TV as iptv in Israel

alternative The Internet can replace the usual television. Spending a significant amount of time searching for engaging content is not suitable for anyone. Internet television can help solve this problem. Its main advantages include: high-quality digital broadcasting in HD quality; availability of channels for Russian-speaking users; minimum number of advertisements; user-friendly interface; easy to connect; Low cost of the service package per month. The most pleasant surprise is that it is the cheapest television in Israel. After all, its average cost is only $1 per day.

Pirate Internet TV iptv in Israel

But not everything is perfect the way we'd like it to be. It's not a new thing anymore to have IP TV, and many companies offer streaming services. As was already said, the average monthly fee for services is about 100 shekels, but this can change depending on the plan you choose. Because the service is over the Internet, the company that provides it may not always be in Israel. Most of the time, an offer to connect for less than 50 shekels per month is a sign of fraud or the sale of illegal material. Even more so if getting such a price means paying in advance for at least six months. Because of this, the user sometimes gets bad quality, broadcast breaks, or no service at all. A lot of the time, these companies' websites don't say where the service provider is located, and the phone numbers they give don't work. It's not hard to connect to IPTV on your own, unlike cable TV. The Internet is the main place where broadcasting comes from. This is how the link can be set up: Connect your smart TV to Wi-Fi without wires You can connect a regular TV via LAN cable to a Smart TV, connect a Smart TV via Wi-Fi through an Android set-top box, or connect a regular TV via LAN cable to a decoder. If you have a current smart TV, all you have to do is download and set up the app. After this, there is a simple registration process. If the TV isn't brand new, the problem can be fixed by getting an Android set-top box instead of the Smart TV. All Internet TV companies in Israel that provide licensed content offer quite similar conditions. To give preference to one of them, you need to compare the conditions: Tariff plan – it is formed based on on-air and static content, as well as a number of additional features. The company's location is crucial for continuous broadcasting. If the company's servers are located directly in Israel, you can be sure of a stable signal. Technical support and service – it doesn't just have to be for show. The advantage will be the capacity to service Russian-speaking clientele. Also, the possibility of a master coming to connect or troubleshoot the equipment will be a plus. As for the pricing plan, it is not the price cap that is decisive, but the quality of the content and the terms of delivery. First and foremost, there must be major Israeli channels. At the same time, the number of Russian-language channels should be sufficient. A large library of movies, series, and cartoons will only be a plus. A convenient feature for watching recorded broadcasts. Comparison of the criteria above allows you to answer the question of which Internet TV to choose in Israel and what to pay attention to.

How to connect to online TV IPTV Israel

Unlike cable TV, IPTV is not difficult to connect to on your own. The main source of broadcasting is the Internet. The connection can be organized as follows: - Wireless Wi-Fi connection to your Smart TV - wired connection via LAN cable to a TV with a Smart TV; - wireless Wi-Fi connection via Android set-top box to a regular TV; - wired connection via LAN cable via decoder to a regular TV. Using a modern smart TV, you just need to download and install the app. This is followed by a simple registration. If the TV is not new, the issue is solved with the purchase of an Android set-top box, which replaces the Smart TV.

The best internet TV in IPTV Israel

BEST TV is a provider that strives to live up to its name as much as possible. The company has been in the Israeli television market for more than 10 years and during this time has gone through all the stages of evolution and improvement. The success is confirmed by the feedback from satisfied customers. To date, the key features are: - well-selected content; - stable signal; - loyal price of the tariff plan; - Daily technical support. More than 20.000 channels are available on the air, roughly 200 of which are in Israel, according to the company's service package. The live stream tape is available for 14 days to watch. The broadcast is produced in high definition, and servers in Israel supply a consistent digital feed. The library, which now offers over 300,000 movies and television shows, is always growing. You may enjoy watching on up to five devices simultaneously, which includes using a phone, tablet, and TV. The business offers assistance with equipment design, connection, and choice. After contacting the support service, any queries the client may have are answered. The service, BEST TV, offers a free trial period to ensure that it offers the best IPTV in Israel. The main problems of iptv in Israel Internet TV as iptv in Israel Pirate Internet TV iptv in Israel How to connect to online TV IPTV Israel The best internet TV in IPTV Israel Read the full article

[p5ravin]

Israel's Inaugural Shekel-Backed Stablecoin to Harness Solana's Blockchain

Israel is poised to introduce its first shekel-backed stablecoin, leveraging the cutting-edge technology of the Solana blockchain. This innovative initiative marks a significant milestone in Israel's fintech landscape, combining the stability of traditional currencies with the efficiency and security of blockchain technology.

The shekel-backed stablecoin, known as ISR, aims to provide a digital representation of the Israeli shekel, offering users a reliable and accessible means of transacting in the digital realm. By pegging the value of the stablecoin to the Israeli shekel, users can benefit from the stability and familiarity of the national currency while harnessing the advantages of blockchain-based transactions.

The decision to build the ISR stablecoin on the Solana blockchain underscores the platform's growing prominence as a preferred blockchain infrastructure for tokenized assets and decentralized applications (dApps). Solana's high throughput, low transaction costs, and scalability make it an ideal choice for projects seeking to leverage blockchain technology for real-world applications.

The ISR stablecoin is expected to facilitate a wide range of use cases, including cross-border remittances, international trade, and digital payments within Israel's burgeoning fintech ecosystem. By providing a seamless and efficient means of transacting in Israeli shekels, the stablecoin aims to promote financial inclusion and innovation in the digital economy.

Israel's embrace of blockchain technology and stablecoin innovation reflects the country's position as a global leader in technology and entrepreneurship. With a vibrant startup ecosystem and a forward-thinking regulatory environment, Israel is well-positioned to drive the adoption of blockchain-based solutions and foster economic growth in the digital age.

The launch of Israel's first shekel-backed stablecoin comes at a time of increasing interest and investment in digital assets and blockchain technology worldwide. As governments, businesses, and consumers seek to harness the transformative potential of blockchain, stablecoins offer a bridge between traditional finance and the decentralized future.

The ISR stablecoin is expected to undergo rigorous regulatory scrutiny and compliance measures to ensure its stability, security, and legality within Israel's financial system. By adhering to regulatory standards and best practices, the stablecoin aims to build trust and confidence among users and stakeholders.

In conclusion, Israel's debut of the shekel-backed stablecoin on the Solana blockchain represents a significant step forward for the country's fintech industry and blockchain ecosystem. By embracing innovation and leveraging the power of blockchain technology, Israel aims to position itself at the forefront of the digital revolution, driving economic growth and prosperity in the years to come.

For more info click the below link https://cryptotale.org/

#blockchain #crypto #cryptocurreny trading #cryptocurrency #decentralised finance #altcoin

[cryptodefinance]

Still in the testing phase, Israel Central Bank, test the national digital currency - digital shekel - has no estimated time to be released to the public, yet. The Ethereum technology is one of the best known in the cryptocurrency market, mainly for its pioneering spirit with the so-called smart contracts. By allowing the programming of money, the network has implemented in recent years several innovations in world finance. According to Bloomberg, who spoke with an Israeli spokesperson about the digital shekel, the Ethereum platform is being scrutinized by the team seeking to create the national digital currency. In May, the Bank of Israel published a report calling for public comment on the potential issuance of a digital shekel. The bank, which says it has been considering the issue of CBDCs since 2017, wrote that it had “not yet decided whether it intends to issue a digital shekel, but in view of the rapid developments in the digital economy and in payments, and in view of the major central banks’ work on the issue, the Bank of Israel is accelerating its research and preparation for the potential issuance of a digital shekel.” In addition, Israel Central Bank is, today, even asking for ideas for apps to work on the network of its digital currency. In this way, it is clear that the local authority is not only planning to digitize its currency but also to take advantage of the advantages already created by cryptocurrencies. The recent conflict in Israel has increased Bitcoin donations to Hamas, a fact that may have made the local central bank more aware of the cryptocurrency market. Israel Central Bank Still Conducts Internal Tests of National Digital Currency Still, in the testing phase, Israel's national digital currency has no estimated time to be released to the public. All experiments with the technology, including Ethereum, are being done in-house. Despite this, it is promising to see the interest of central banks in the cryptocurrency market, as the technology was born precisely to replace their uncontrolled printing of money. It is noteworthy that the Central Bank of Brazil also conducts tests with the digital version of the Real. In principle, the Brazilian national currency will have its first results delivered in 2022, with the BC deciding whether it would go ahead with the launch of the innovation. However, in recent weeks an initial study on the digital real was released by Bacen, making it clear that the guidelines are to create a safe currency, programmable money, and the possibility of connecting with the PIX. Even so, the new currency will be launched in the long term, in up to three years by Brazillian Central Bank. A pioneer in studies on the subject, China is the first country to conduct public tests with its digital currency that does not work with a blockchain.

[vkq103487428]

Week 7: From an Iceman to the Kardashian: How body modification evolved through the ages.

#MDA20009

Wait... Haven't we been doing this for a looong time?

For as long as mankind has existed, we have been constantly on the lookout for ways to enhance our physical appearance, whether it be via tattoos, piercing or digital filters and photoshop.

The oldest currently known instance of body modification belongs to Ötzi the Iceman, an over 5,300 years old mummified body found in the Alps' Ötzi Valley in 1991. His body was home to sixty-one carbon pigment marks on the abdomen, lower back, lower legs, and left wrist. These tattoos seem to indicate that the man was perhaps of significance status, or was involved in some kind of ritual (Samadelli et al. 2015).

The next step for body modification in ancient times was body piercing. One of the first documented case of nose piercing actually came from the Bible. As written in the Book of Genesis (24:22): "When the camels had finished drinking, the man took out a gold nose ring weighing a beka and two gold bracelets weighing ten shekels." The practice of men gifting gold nose jewelry to their spouse is a tradition that is still practiced to this day by the Bedouin tribes.

After tattoos and piercing, more extreme forms of body modification started appearing all over the world, with notable mentions being Chinese foot binding and Myanmar's Kayan tribe neck rings.

Besides ceremonial and aesthetics purposes, plastic surgery also emerged as a popular form of body modification. Reasons for getting an operation range from for beauty purposes to getting rid of unwanted features stemming from disabilities.

Now, in the modern day and age, body modification is everywhere, from tattoos and piercings to nose jobs and digital filters (The topic of next week's post 😉).

Even though it originally started as a way for people to express themselves, as well as for ceremonial purposes and medical ones, body modification has gained a bad rap in recent years, due to the influx of influencers posting pictures and videos of their body on social media. While there's nothing inherently wrong with doing this, the things influencers post are often overly sexualized, to the point where the term "Sexualized Labour" can be applied.

Influencers and Sexualized Labour

Sexualized labour refers to work that involves a sexual or sexualized element, where individuals may use their sexuality, sexual appeal, or sexualized attributes as part of their job performance.

In the context of digital culture, sexualized labour can manifest in various forms, such as influencers on social media platforms like Instagram using their sexualized aesthetic to attract attention and monetize their online presence (Drenten, Gurrieri & Tyler 2019).

Specifically, on Instagram, sexualized labour is performed in various ways:

Connective Labour: Female influencers engage in connective labour to mobilize their sexualized aesthetic and emotional labour on Instagram. This involves tagging numerous profiles, using hashtags, and creating affiliations to attract attention, gain followers, and increase likes without immediate financial compensation.

Affiliation-based Influencer Labour: Some influencers, known as "hopefuls," provide free advertising for brands by subscribing to culturally prescribed female body ideals to attract attention and potential affiliate brands. This labour is sexually objectifying and adds value to economies without direct monetary incentives 12.

Access-based Influencer Labour: Influencers, referred to as "boasters," may have informal affiliations with brands and receive branded freebies, product trials, or coupon codes. They boast about these affiliations to capitalize on brand attention, even though they may not receive meaningful monetary compensation.

Performance of Sexualized Labour: Female influencers on Instagram engage in aesthetic labour, emotional labour, and a "porn chic" sexualization to attract attention and monetize their online presence. This involves crafting specific body poses, gestures, and stylistic choices that align with existing cultural norms of sexualization.

Self-Commodification Continuum: Influencers navigate a continuum of self-commodification, ranging from non-monetized and low attention practices to monetized and high attention practices. This continuum reflects the ways in which influencers leverage their sexualized labour for different levels of attention and potential financial rewards.

These practices highlight the complex dynamics of sexualized labour in digital culture, where influencers strategically use their online presence to engage with audiences, attract brands, and navigate the attention economy on platforms like Instagram.

Furthermore, sexualized labour in digital culture can also be categorized as below:

References

Drenten, J, Gurrieri, L & Tyler, M 2019, ‘Sexualized labour in digital culture: Instagram influencers, porn chic and the monetization of attention’, Gender, Work & Organization, vol. 27, no. 1.

Samadelli, M, Melis, M, Miccoli, M, Vigl, EE & Zink, AR 2015, ‘Complete mapping of the tattoos of the 5300-year-old Tyrolean Iceman’, Journal of Cultural Heritage, vol. 16, no. 5, pp. 753–758, viewed <https://www.sciencedirect.com/science/article/pii/S1296207415000023>.

#mda20009

[drewssam]

Israel, Norway, Sweden Join BIS to Evaluate CBDC for International Payments

The Bank for International Settlements (BIS) has initiated a collaboration with the central banks of Israel, Norway, and Sweden to explore the potential of central bank digital currencies (CBDC) for international retail and remittance payments. This partnership aims to establish a hub enabling the Central Bank of Norway, the Bank of Israel, and the Sveriges Riksbank to connect their CBDC proof-of-concept systems. The project's objective is to assess the technical and operational feasibility of interconnecting various CBDC systems, testing specific functionalities.

The envisioned architecture aims to facilitate instant cross-border retail CBDC payments at a reduced cost compared to existing systems, which often involve multiple banks in the correspondent banking system. Bank of Israel's deputy governor, Andrew Abir, highlights the significance of efficient cross-border payments for economies like Israel, underscoring the motivation for exploring a digital shekel issuance.

Beju Shah, director of the BIS Innovation Hub Nordic Centre, notes that this experiment will be pioneering, delving into technological choices, architecture, design, and policy considerations. The insights gained will aid central banks contemplating CBDC usage for international payment transactions. This collaboration represents a significant step toward exploring the potential of CBDCs to revolutionize cross-border payments and enhance financial inclusion.

[sunmarketing]

Masada and Red Sea, Israel Plus eSIM cards, screenshot your map, money belts

This episode's FAQ is: Do I need a local SIM card?

Today’s Destination is The Dead Sea and Masada, Israel

Today’s Misstep- Screenshot your MAP before you travel

Travel Advice: Wear a money belt.

FAQ: Do I need a local SIM card?

Response: When you travel abroad, you don’t need a local SIM card anymore. It’s found in nearly every airport and is expensive, but you get your own phone number. It does involve opening your phone up.

  Read the show notes if you want to try an esim and need help. I’ve been using an esim called Airalo for a year, and I have a referral code for you to save $3.00. It is MARY2856.

  https://www.airalo.com/blog/roaming-vs-international-sim-card-vs-local-sim-card-heres-what-to-know

    Today’s destination: Israel (split into three parts, Jerusalem, Dead Sea/ Masada, and Tel Aviv. This episode is part 2 of three.

  Because I was a solo female traveler, I booked a full-day tour of the Dead Sea and Masada. On my tour, I asked, “Where is the West Bank”?

  I learned that it originally meant West of the Jordan River. Now, it is a shared space between Israelis and Palestinians. There are three settlement types here. Palestinian, Mixed, and total Israeli control has about 13 million people living there.

  The land also has date trees, vineyards, and olive trees. With advances in agriculture, the soil has been cleansed from salt, so trees grow abundantly. There are many vegetables and greenhouses with drip irrigation, and I was told that cherry tomatoes were invented here.

https://www.youtube.com/watch?v=A6UxvYeH_v0

https://www.youtube.com/watch?v=Bno1m1zhIWs

  Masada is part of Rift Valley. Masada is the last Judean stronghold not taken by Romans. In 70 AD, the temple was destroyed and never rebuilt.

Nine hundred thirty-two people went to Masada to escape the Roman Empire and lost. How did the Romans win? They built a ramp, had a catapult, and knocked down the wall.

A gondola brings you to the top of the mountain now. You see storage rooms with places where date trees grew. There were plenty of touristy things to do here in Masada, but the history made it come alive today for me.

  The lake is dried up, mostly, with remnants of where the water used to be. Jordan Valley is 450 meters below sea level. Dead Sea Scrolls were discovered here.

  https://library.gordonconwell.edu/Old_Testament/Texts/DSS

  Want to ride a camel? You may pay 20 shekels to ride and another 50 to get off.

West of the Jordan River, 13 million people, primarily Arab, Jews, and mixed.

  Businesses are harvesting minerals and creams from the Dead Sea. For example, we stopped at a factory where Ahava is sold; sunscreen is $50. Mud is also sold here for $13.60. The mud comes directly from the Dead Sea in a bag. They say it is suitable for your skin. I did not purchase any.

  https://www.ahava.com/pages/about-us

  People from around the world travel to the Dead Sea to bathe in its water and to cover themselves with its mud to relieve symptoms of skin conditions, including psoriasis and eczema, as well as rheumatoid arthritis, cardiac disease, respiratory illnesses, and more. 

  https://www.tripadvisor.com/ShowTopic-g293979-i8272-k5751280

The Dead Sea has no fish. That’s not a joke because it’s poison.

Spend 20 minutes maximum in the water—no splashing, drinking, or tasting. Don’t get in your eyes. Don’t wet your head. Dangerous. My genital area was burning, so I think I was more sensitive than others. I didn’t stay in very long as my private parts were uncomfortable. While getting in and out of the water, I got two minor scratches on my hand. The mud felt oily and slick. 

  https://en.wikipedia.org/wiki/Dead_Sea

  https://whc.unesco.org/en/list/1040/

  Rick Steves two minutes on Masada

  https://www.youtube.com/watch?v=JXQg-H4GsWA

Today’s Misstep- Screenshot your digital MAP before you travel

  Today’s Travel Advice- Wear a money belt.

  Connect with Dr. Travelbest

5 Steps to Solo Travel website

Dr. Mary Travelbest X

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In the news

  Check out this Dr Travelbest episode!

#travel #women #dr travelbest #best travel

[calebyap]

Some words for 2024

As we enter into a new year, some approach the year with a sense of foreboding and fear, others with a sense of opportunity and excitement. Still others look at the days to come with a certain coolness of spirit - a disinterest and detachment - that is neither excited nor anxious, because we cannot tell what tomorrow will bring. Truly as James 4 reminds us, we are merely a mist, and we should neither say with certitude that we know what tomorrow will bring, for only He that is eternal, unchanging and enduring can speak of tomorrow with certainty. Still, at risk of presumption, 2024 looks like it will be characterised by at least five things:

First, a measure of fine flour will be sold for a shekel - the turbulence of geopolitics, decoupling and inflation. For most of the last semisesquicentennial after the great World Wars, the world has remained in relative peace with an integrated global order characterised by American dominance and the flourishing of liberal democracy, global trade and interdependence and the unfettered flow of goods and services the world over. Today, that world order has been severely disrupted most significantly as China rises, stumbling, to take its place as a major geopolitical, economic and military power competing strategically with the United States. This competition has spilled over into multiple domains - from trade, capital, proxy states, theatres of conflict, naval access, military technology and sponsorship to digital applications and semiconductor chip manufacturing. So intense has the competition become that markets have begun to “decouple” as the world splits into two playgrounds each with its own Big Brother trying to assemble friends, lackeys and allies. This has driven up global prices and hotted up inflation, which had already been aggravated by the recent pandemic’s impact on global trade. Things will become more expensive. The world will continue to be pulled into different directions. Flashpoint issues - none greater than the issues of Taiwan’s independence - closely watched in the 2024 Taiwanese presidential election, will become intensely hot. Will these two superpowers learn to get along? How will their relationship mold every other bilateral and multilateral relationship in the world? How will it affect the global economy, stock market, your company and your working agenda this year? This question will mark the rest of the century.

Second, the days of wars and rumors of wars. No one expected 2023 to bring us not one but two major conflicts with massive international ramifications. Since 1945 major war on the European continent has been thought unthinkable. Since 1973 major incursions on the modern state of Israel has been thought unthinkable. Both of those assumptions have been upturned, and without prior warning. Putin’s war on Ukraine has not gone as he has hoped, but it would appear that international support for Ukraine is starting to wane. Will the United States be able to continue funding Zolensky’s admirable campaign against the regional superpower or will domestic pressures choke out American funding? In Israel, international support for the Israeli retaliation has already dried up, even though Prime Minister Netanyahu insists that Israel will go it alone for months until all the taken hostages are returned by Hamas. Meanwhile every day that Israel continues its occupation of the Gaza enrages both Muslims and the global community who see the human cost of that war. Iranian-funded Houthis have risen in solidarity and taken up arms in the Red Sea, imperling global trade around the Suez Canal even further. Will this give rise to more intifidas and acts of terror in solidarity? What will be left in Palestine when the dust settles and how will it change the Middle East? In the meantime how much more can our interconnected world endure from rising costs of war in the Middle East? How will these events impact where you live, what you have to give up and what you have to do?

Third, the world pursues misanthropy and assaults the image of God. From the original design in Creation, Man was meant to image and mirror God’s likeness in being male and female as His imagebearers to all Creation. However in sin, we have tarnished that likeness in numerous ways, many of which are now showing up in at least three secular discourses:

The climate crisis facing our world - part of the Genesis narrative is the delegation of man and woman to be vice-regents over the world that God has made. We are to tend life in the garden, image God to the Creation, and receive it as a gift given for our food and nourishment. Yet far from being that one family given stewardship over the garden for good by God, the United Nations Climate Change Conference (COPS28) closed in December 2023 by acknowledging that little progress has been made to steer humanity from the course of reaching its 1.5 degree increase limit. In other words, our way of life continues marching towards the point of destruction as we consume fuels and produce power in a way that makes the outcome inevitable. Will our secular language continue to fall short of humanity’s great sin and failures to steward God’s earth? Will we look for new ways to speak of sin, greed, pride and self-interest - the many ways we have tarnished God’s holy image? Friends, is there also a need to evaluate your own personal relationship to waste and consumption, at home or at work, as we think about our stewardship of God’s earth?

Anxiety over Artificial Intelligence - will the data that powers our collective experience, insight and creativity - a reflection of what we are, powered by cloud and quantum computing show us that the sum of human existence is less than the whole? With the rise of ChatGPT at the tail end of 2022, executives, workers, creatives and are terrified at seeing the leaps and bounds of AI’s potential and the risk that we will lose our jobs. The irony in all of this is that what it means to be human is precisely the question raised if what we have made in our collective “image” is faster, more networked, informed, insightful and intelligent than we are. Is there nothing more to being human than being human if our collective consciousness can do what we do? How has AI caused you anxiety at work last year? How will it change the work for the year to come?

The war over gender and identity- champions of women’s suffrage will claim that the battle for equal rights began much earlier than the 1960s. In 2023 the issue of abortion in the United States has freshly been invigorated by the striking down of Roe v. Wade by the USSC. But in this modern, even post-modern era, the gender wars have long moved beyond what it means to be male and female and to be recognised as such. Today the fight is for the rights of the same-sex attracted, and on to the rights of the gender fluid. Gender identity is not an assigned category as much as it is a way of seeing one’s self. But the waves of the sexual and trans revolution have begun to crash against the hard surface of the shore. In parts of the world where trans rights had been thought enshrined we have seen something of walking back of support for pro-trans positions as in areas of transition treatment or gender-affirming treatment for minors and trans women in women’s sports. How will humanity continue to reject the way that God has made us - male and female - in the days ahead and how will this conflict intensify? What choices will we need to make - especially those of us with children or with interactions with small children - how will we need to speak, model and teach on these issues?

Fourth, we will see more of life in an “Ecclesiastes 12” world. All around the world, we see a “hyperaging” phenomenon, but especially in developing countries like Singapore. Related to our misanthropy (above), falling birthrates and the declining respect for marriage, parenting and the role of the family show how our common humanity is marked by a dislike for other humans. Pet ownership is on the rise whereas parenting is on the decline. Unwittingly this contributes to our hyperageing where there are less babies relative to the aged. In Singapore, one of the advanced and prosperous nations in the world, one out of every four persons will be aged 65 and above by 2030. We will live increasingly in an Ecclesiastes 12 world - a world where we see a growing concern for healthcare, wellness and longevity where the body deteriorates and its related concerns increase. This will impact how we think about our costs, duties, where we live, how we live, our worship, spiritual formation, our relationships, obligations, freedoms and every part of life. How will we prepare for the needs of our seniors in the days ahead? What needs do we need to prepare for as a result?

Fifth, the wheat and tares will continue to grow. Without a doubt, the words of Matthew 13 will come to mark 2024 as we see the continued growth of both the true church of Christ growing like lifegiving nutritious wheat, and the world and its counterfeit of God’s holy church, like tares or weeds, growing alongside the wheat. At times it may even be confusing to distinguish between the two. There may be well-meaning believers who think they are spreading truth but actually propagating error. There may be sexual abusers and those who hurt others lurking in our communities. There may even be unrepentant believers, rejecting church discipline and shepherding, persisting in their wayward pursuit of sin, self and idolatry, living in close proximity to the people of God. Nowhere in the parable are we promised that the wheat grows independently from the growing weeds. But we are assured that both will grow and remain till the end, where they will be a sorting by the Farmer. In what ways will we see the church grow this year? Will it be in missions where the Gospel advances to the nations? Or will it be in the raising up of new leaders, preachers and evangelists for the sake of Christ’s name? Or will there be a harvest of people coming into the gathered feast, reclining at table and enjoying the fellowship of His people? Is there a need for a personal reset as we think about the growth of the wheat and weeds - what needs to change in your life as a result?

In the face of all these likely anticipations, what are God’s people to do as we think and look to the future? Two Scriptures come to mind, which are really one exhortation.

First, hear the words of Deuteronomy 6:6: “these words I command you today shall be on your heart”. Moses will go on to urge his hearers to bind the words of the Torah to the frontlets of their eyes and on their hands, so they can speak of them to family and friends everywhere they go. In other words, to be a people of the Word of God, anchored, rooted and established to the unchanging commands of the living God. While the world around us changes, let us remain steadfast, committed and immovable. To do this, we need a discipline of ever setting God’s Word before our eyes and hands. What we see and what we do must reflect that priority and that concern. To borrow the words of the Wesleys in their Watchnight covenant prayer of committment, we should aim to live according to God’s will guided by God’s Word: “I am no longer my own, but yours. Put me to what you will, place me with whom you will. Put me to doing, put me to suffering. Let me be put to work for you or set aside for you, Praised for you or criticized for you. Let me be full, let me be empty. Let me have all things, let me have nothing. I freely and fully surrender all things to your glory and service. And now, O wonderful and holy God, Creator, Redeemer, and Sustainer,  you are mine, and I am yours. So be it. And the covenant which I have made on earth, Let it also be made in heaven. Amen.”

Second, heeding the words of Jesus in Matthew 7:24–27, build your house on the Rock: “Everyone then who hears these words of mine and does them will be like a wise man who built his house on the rock. And the rain fell, and the floods came, and the winds blew and beat on that house, but it did not fall, because it had been founded on the rock. And everyone who hears these words of mine and does not do them will be like a foolish man who built his house on the sand. And the rain fell, and the floods came, and the winds blew and beat against that house, and it fell, and great was the fall of it.”

If Deut 6 calls us to keep God’s Words in our heart in inner conformity, Matthew 7 calls us to trust and obey God’s Word by living them out in outward conformity. Jesus’ exhortation is clear - wisdom is to hear Jesus and do what He says. That is the equivalent of building your house on the Rock, the true, unchanging and immovable foundation that is stable and safe. When the storms of life land - the storms of geopolitics and macroeconomics, of wars, of cultural and societal revolution and church rise and fall - your foundations will all be revealed. 

Friends, be Bible-built for 2024. Take His Word into your heart and build your life on it. There is no warmer light for your soul and no safer foundation for your house. 

#faith meets life #new year #reflections #bible reading #commentary #current affairs

[tejauan]

A Scientific Experiment (for unbelievers only)

In the spring of 2001 I became intrigued by the idea of designing a scientific test of multiple hypotheses. The hypotheses I was to test and the only way I could imagine testing them required that I test them all concurrently as I was unable to conceive of or design a scientific experiment which could test them individually. These are the hypotheses: (1) that there is another dimension of consciousness or reality which contains (an)other entity or entities, (2) that that or those other entity or entities have the ability to influence physical events in this dimension and, finally, (3) that that entity or entities have the desire to influence physical events in this dimension (primarily, for the purpose of this experiment, to communicate with a person or people in this dimension).

The reason I say that I was required to test them all concurrently is that they all three must be true for the test I designed (again, the only one of which I could conceive) to yield a positive result. If any one of them is not true then the test would yield a negative result.

Originally my idea was to find and agree with some person whom I thought might pass into the next dimension before me that if so, he or she would send a predetermined message via a predetermined mechanism. The mechanism of which I conceived required only that whatever entity was willing to communicate be able to influence the outcome of the flip of a coin. This simple ability could, with the use of modern digital coding and uncoding, theoretically allow the communication of any information possible. I am specifically referring to the use of binary codes in general and ASCII code in particular. For those of you not familiar with ASCII code it is what determines how the millions of digital bits (zeroes and ones) in your computer are converted into alphanumeric text. My idea, therefore, was to generate a series of bits by flipping a coin and then converting those bits into alphanumeric characters (as it turns out the ASCII code allows for many other characters also since there are 128 possible variations for a 7 bit "word") using ASCII code (I used the original 7 bit code instead of the later, expanded 8 bit code). IF all three of the previously described hypotheses are true then it would be possible to receive any message that was sent.

I ended up not approaching anyone else about this, though, partially because I'm not sure of the etiquette involved. What do you say? "Hey, I think you're gonna die before me. How about seeing if you can send me a message from the other side."? What I did do was sit down one day and very seriously approach the act I was about to undertake. I don't know if what I did was pray or if it was more of an attempt to project my consciousness or open my consciousness to whatever was possible. I think the general idea I tried to project was something like, "Hey, if there's anyone out there, talk to me!" As I said, though, I did not undertake it lightly. I approached it very seriously, even though I may now relay my thoughts in a more light hearted manner. The coin I chose was a one shekel coin that a friend and coworker had given me when he returned from a trip to Israel many years ago. It was an unexpected but appreciated gift.

I began flipping the coin and as I generated each string of 7 bits (flips) I converted it using the ASCII code I had gotten from several sources on the internet. As I said, the ASCII code allows for much more that simply letters and numbers so as I translated each string of bits I got other symbols as well. The first 7 bits translated as " (" or "open parentheses". The next 7 bits the ASCII code translated, according to the chart, as "BEL". I had not realized there were such characters and I did not understand the computer application of this set of letters until later but the first thing that did come to my mind is probably the first thing that would occur to most people encountering this for the first time. "BELIEVE". The third string of 7 bits translated as ")" or "close parentheses". The fourth string of 7 bits translated, again according to the chart into something that I had not known existed, as "end of transmission". I have to say that at that point I was struck by the unlikelihood that this string of characters could have occured by chance and it was obvious to me, though it took a while to really sink in, what I was being told. I should have known that I might as well stop immediately but I continued to flip the coin a little while longer.

I didn't continue for very long though, because everything after that was just nonsensical gibberish. I did also try it one more time several days or weeks later but only got more gibberish. As an example of the kind of gibberish I'm talking about and is MUCH more likely to occur by chance than anything meaningful here is the string of characters that resulted at that second time: "DLE", "C", "H","n",")","VT", "EM", ":","FS", "FS", "i". Try to find some meaning in that! I never tried it again.

Now, as a person who has studied mathematical statistics at the graduate level, I know that it would be appropriate to apply a test of statistical significance to the results of the aforementioned scientific experiment. For those of you who are not similarly trained, this is the process of calculating the probability that the results occured strictly by chance. The most common levels of statistical significance are 5%, 2% or, at the very least 1%. In other words, if there is a less than 1% chance that the results occured by chance, then the experimental results are deemed, by the highest scientific standard, to be statistically significant. That is to say the experiment has "proven" the hypothesis or, in this case, hypotheses, that it was designed to test. The question in this case is: of all the strings of characters which can possibly be generated, how many could reasonably be considered meaningful? The two strings that were generated in this case | think clearly illustrate two very different outcomes, one clearly meaningful and one clearly not. The question is: what would be their relative abundance by chance? There are 128 possibilities for the first and each subsequent character, therefore the number of possibilities for a string of "n" characters is 128 raised to the "n" power. For example, the number of possible combinations of 4 characters is 128 times 128 times 128 times 128 or over 268 million! That means that for even 1% of them to be meaningful there must be 2.68 million meaningful messages consisting of 4 characters. Is that possible? I submit that it is not and therefore declare that this test has far surpassed any conceivable standard for statistical significance and, therefore, scientifically valid confirmation of the hypotheses. As a scientist, however, I welcome any discussion of these issues.

Now, the question you may ask is why, since this test was performed in the spring of 2001 and the events described in "La Perla" and "una moneda" occured in the summer of 2003, is this test relegated to third place? Why did I not even tell a single person about it until the spring of 2003 (and then only sonya) and not a second person until after "La Perla". The answer is that even though I was astounded and maybe even a little frightened by the results, they didn't really impact me in a way that changed my life. Nothing like the impact of "La Perla". I think that speaks volumes about the relative nature of the intellectual experience versus the spiritual experience. Now that I think of it the phrase "intellectual experience" may actually be an oxymoron. If I have used more words to describe this experiment than the superior experience it is only because the experiment is more amenable to verbal description, NOT because it is more important or valuable. It is not.

I did use the previously described coin one other time to "receive" a message. It was June 23rd of this year (2003) and sonya had raised with me an issue of something I was doing which she did not think was ethical OR my mind my behavior pleasing to God. I had many "reasons" to "justify" i but that day I decided to open myself to the possibility of change and decided to pull out the coin again. This time I didn't use the ASCII code since there were only two possibilities: either I would continue doing what I was doing or I wouldn't. I also didn't feel I needed the high degree of "statistical significance". I prayed and made a solemn commitment that I would abide the results of the coin flip, no matter what the outcome. I even wrote , before flipping the coin, which side of it corresponded to each course of action. When I flipped it the result was that I was to discontinue what I was doing. I did.

Now, I hesitate to even relate these stories of "coin flipping" because I know that many people who read this will be tempted to try it for themselves and I DO NOT recommend that. Not only is it ripe for abuse but it may actually be dangerous. Especially the second, less statistically significant method. If you absolutely cannot resist trying this I strongly recommend that you use the first method. The one hypothesis that may vary in it's validity (though it was obviously true for at least one brief moment) is the third. It may be that for whatever reason that desire to communicate with you (at least by this method or at that moment) is not there. If that is the case then if you use the first method you are likely, at the worst, to end up with nonsensical gibberish (as I did the second time). Then again there may be other entities which may be harmful but which may also have the ability communicate by this method. I do not know about that. It may be that I was and am "protected". Therefore I must repeat that I DO NOT recommend using either of these methods. If you choose to ignore this warning I WILL NOT be responsible for the results.

FINAL WARNING: I recently learned (after writing all of the above) that there was a deity of the Babylonians mentioned three times in Isaiah and Jeremiah named "Bel".

THIS IS DANGEROUS! DO NOT DO IT!

[ailtrahq]

Table of Content The BIS Innovation Hub partnered with the Bank of Israel and the Hong Kong Monetary Authority to trial a retail CBDC.  The Bank of International Settlements (BIS), in partnership with the central banks of Hong Kong and Israel, recently completed Project Sela. Project Sela proved a retail central bank digital currency (rCBDC) can combine accessibility, competition and preventative cyber security while retaining the main advantages of physical cash.  With Preventative Design, rCBDC Does Not Comprise Cyber Safety Project Sela is coordinated by the BIS Innovation Hub Hong Kong Centre and leverages the Bank of Israel’s cyber security expertise and work on the digital shekel, along with the Hong Kong Monetary Authority’s (HKMA) findings from previous projects such as Project Aurum and e-Hong Kong Dollar. The project also took advice from other Innovation Hub experiments on retail CBDCs.  According to the BIS, one of Sela’s key goals was to promote an accessible, competitive, and innovative retail CBDC that can serve a variety of use cases. In achieving this goal, the project aimed to lower barriers to entry for service providers and unbundle and redistribute the activities associated with retail CBDC accounts in the private and public sectors. Project Sela further aimed to establish a digital means of payment that retains the desirable attributes of cash and maintains an appropriate level of privacy for its users. The features include being free from credit risk, being widely accessible, a safe means of payments and storing values, the ability to complete settlements and low operation costs instantly.  Sela Introduces Novel Type of Intermediary One of the core parts of Project Sela is a novel type of intermediary called the Access Enabler. This intermediary manages all customer-facing retail CBDC services without “holding” end users’ retail CBDC. This eliminates the need to hold funds to maintain liquidity or reduce its settlement risk. A further advantage of the Access Enabler is it does not need to hold funds on its balance sheet. Compared with current payment service providers, the Access Enabler removes two notable cost sources: complexity and risk.  Bénédicte Nolens, Head of the BIS Innovation Hub Hong Kong Centre, commented: “Project Sela explored the feasibility of a CBDC system where the central bank operates the retail ledger and a new type of intermediary, called an Access Enabler, provides broader access to the CBDC, promoting competition and innovation. It showed that this can be achieved without compromising cyber security or the privacy of end users from the central bank.”  Deputy Governor of the Bank of Israel, Andrew Abir, commented: “Competition and innovation require a flourishing and open ecosystem with many different types of service providers. This was our initial goal in Project Sela as a proof of concept, and the project proved the feasibility of the model we had in mind. If central bank money is to go digital, cybersecurity is key, and the project provided an opportunity to discuss and study cybersecurity elements of CBDC with our partners. The Bank of Israel is honoured to collaborate with institutions that stand at the frontier of CBDC explorations.”  Howard Lee, Deputy Chief Executive of the HKMA, said Project Sela renews the city’s interest in exploring an electronic version of its HKD. He said:  “Project Sela provided valuable practical insights into the cyber security, technological, legal and policy aspects of a retail CBDC implementation. While the HKMA has not yet made a decision on whether and when to introduce a retail CBDC in Hong Kong, Project Sela’s outcomes will inform our on-going exploration of a possible e-HKD. We hope Project Sela will also benefit other central banks in their own evaluations of different retail CBDC architectures.”  Source

[coinatory]

Project Sela: A Joint Venture Validates the Viability of Retail-Centric Central Bank Digital Currencies

A joint effort known as Project Sela aimed to explore and establish a retail-centric central bank digital currency (CBDC). The Bank for International Settlements (BIS), Hong Kong's Monetary Authority (HKMA), and the Bank of Israel have successfully demonstrated the viability of a secure retail CBDC, as reported on Sep. 12. BIS-coordinated "Project Sela" showcased an rCBDC that brings the benefits of physical currency without compromising on cyber security, user confidentiality, or accessibility. The project drew insights from the Israeli Central Bank's exploration of a digital shekel and the HKMA's research into an electronic Hong Kong dollar. Bénédicte Nolens, who leads the BIS Innovation Hub in Hong Kong, highlighted the introduction of a novel CBDC intermediary mechanism termed "Access Enabler". Nolens explained that t

Read more on Project Sela: A Joint Venture Validates the Viability of Retail-Centric Central Bank Digital Currencies

#adoption #blockchain #CBDC #China #cryptocurrency #cryptomarket #cryptonewstoday #Jamaica #Nigeria #regulations

[p5ravin]

Israel’s First Shekel-Backed Stablecoin to Leverage Solana

Israel's cryptocurrency ecosystem is set to witness a significant development with the introduction of the country's first shekel-backed stablecoin, leveraging the Solana blockchain. This groundbreaking initiative marks a convergence of traditional finance and blockchain technology, offering a new avenue for Israelis to transact and invest in digital assets while maintaining stability and trust in their native currency.

Stablecoins, which are digital assets pegged to the value of fiat currencies like the US dollar or euro, have gained widespread popularity in the cryptocurrency market due to their stability and utility in facilitating seamless transactions and hedging against market volatility. Now, Israel is poised to join the ranks of countries embracing stablecoins with the introduction of its own shekel-backed digital currency.

The decision to leverage the Solana blockchain for Israel's first shekel-backed stablecoin underscores the growing prominence of Solana as a leading blockchain platform known for its scalability, speed, and low transaction costs. By utilizing Solana's robust infrastructure, the creators of the stablecoin aim to provide users with a seamless and efficient payment solution while maintaining the stability of the shekel.

The introduction of a shekel-backed stablecoin holds significant implications for Israel's cryptocurrency market and its broader financial ecosystem. By offering a digital representation of the shekel, the stablecoin opens up new opportunities for Israelis to participate in the burgeoning digital economy while mitigating the risks associated with cryptocurrency price volatility.

Moreover, the integration of blockchain technology into Israel's financial system has the potential to streamline cross-border transactions, facilitate remittances, and foster greater financial inclusion for underserved populations. With the ability to transact in shekel-backed stablecoins on the Solana blockchain, Israelis can access a wide range of decentralized finance (DeFi) applications, such as lending, borrowing, and trading, without being exposed to the volatility inherent in other cryptocurrencies.

The launch of Israel's first shekel-backed stablecoin also highlights the growing acceptance and adoption of digital assets by governments and regulatory authorities. As policymakers around the world grapple with the regulatory challenges posed by cryptocurrencies, the introduction of fiat-backed stablecoins represents a middle ground that bridges the gap between traditional finance and the digital economy.

Furthermore, Israel's embrace of blockchain technology and stablecoins reflects a broader trend of innovation and experimentation in the global financial landscape. With central banks exploring the possibility of issuing their own digital currencies (CBDCs) and private companies developing stablecoins backed by various fiat currencies, the digitalization of money is poised to transform how value is transferred, stored, and managed in the modern economy.

In conclusion, Israel's foray into the world of stablecoins with the launch of its first shekel-backed digital currency on the Solana blockchain signals a significant milestone in the country's journey towards embracing blockchain technology and digital assets. By providing a stable and efficient means of transacting in the native currency, the stablecoin opens up new opportunities for innovation, financial inclusion, and economic growth in Israel and beyond. As stablecoins continue to gain traction globally, their role in shaping the future of finance cannot be overstated, offering a bridge between traditional monetary systems and the digital economy of tomorrow.

#blockchain #crypto #cryptocurreny trading #cryptocurrency #decentralised finance #stablecoin

[prenewstech]

Stablecoin Growth In Israel Prompts Central Bank To Explore CBDC

The use of stablecoin is seeing immense growth in the biblical holy land. The Bank of Israel published a report on Monday detailing the possible outcomes that would warrant a decision to issue a digital shekel. The decline in the use of cash would undoubtedly lead Israel to develop its own central bank digital currency (CBDC), as would a good decision by the United States or the European Union to…

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[etiennekissborlase]

Stablecoin Growth In Israel Prompts Central Bank To Explore CBDCs

Stablecoin Growth In Israel Prompts Central Bank To Explore CBDCs https://bitcoinist.com/stablecoin-use-grows-in-israel/ The use of stablecoin is seeing immense growth in the biblical holy land. The Bank of Israel published a report on Monday detailing the possible outcomes that would warrant a decision to issue a digital shekel. The decline in the use of cash would undoubtedly lead Israel to develop its own central bank digital currency (CBDC), as would a good decision by the United States or the European Union to do so. A CBDC is the digital equivalent of a country’s fiat currency (money guaranteed by the government. CBDCs use stablecoins, whose value is fixed to a reference asset like fiat currency, to provide the same functions as conventional currency. Although 90% of the world’s central banks are looking into CBDCs, just a handful have progressed to the stage of issuance, as noted in the Bank of Israel’s 21-page study explaining the scenarios. Stablecoin: The Best Alternative To Cash? The Bank of Israel Steering Committee identified a drop in cash use in Israel as a potential driver of CBDC development. It noted that consumers still rely heavily on cash for their purchases, but that this may change as people adapt to new payment methods. When compared to more conventional payment methods, stablecoin transactions have many advantages, including speed, low cost, and safety. They also fill a need for an electronic replacement for currency, which is losing favor in many countries. However, there are issues with CBDCs that need to be carefully evaluated and handled, including concerns about financial stability, privacy, and cybersecurity hazards. The bank acknowledged that the success of CBDCs from other countries, including the United States or the European Union, has a role in the issuance decision in Israel. CBDCs And International Collaboration Earlier, the Bank for International Settlements (BIS) collaborated with the central banks of Israel, Norway, and Sweden to investigate the potential of stablecoin for cross-border retail and remittance transactions. In terms of crypto legislation, Israel appears to be following the United States’ lead. Israel’s securities regulator, the Israel Securities Authority (ISA), proposed legislation earlier this year that would treat cryptocurrency assets like stocks and bonds. Analyst and veteran trader Ilan Tennenbaum said: “The situation right now in the world is that some countries – for example, Australia, Brazil, Canada, China, India, and Japan – already have a CBDC project on some level.”  The BOI will keep an eye on how other countries handle these issues. It tested a private-by-design CBDC blockchain technology last year. It also took part in Project Icebreaker, which studied the utility of CBDCs for international money transfers. -Featured image from JPost Staff via Bitcoinist.com https://bitcoinist.com April 19, 2023 at 07:49AM

#Bitcoinist.com