{"id":16125,"date":"2025-03-04T16:32:34","date_gmt":"2025-03-04T16:32:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16125"},"modified":"2025-03-04T16:32:34","modified_gmt":"2025-03-04T16:32:34","slug":"bank-of-israel-unveils-possible-design-of-multipurpose-digital-shekel","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16125","title":{"rendered":"Bank of Israel Unveils Possible Design of ‘Multipurpose’ Digital Shekel"},"content":{"rendered":"
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The Bank of Israel has put forward a possible design for a central bank digital currency (CBDC) should the decision be made to introduce one in the future.<\/p>\n

The central bank described the proposed digital shekel (DS) as a “multipurpose CBDC”, to wit it would be for both retail and wholesale use, in a paper published on Tuesday<\/a>.<\/p>\n

“The DS will be a multipurpose digital currency that will address both the retail needs of end users such as households and businesses as well as the wholesale needs of financial entities,” the paper said.<\/p>\n

The Bank of Israel would therefore be providing a digital equivalent to cash while also upgrading its existing settlement system that financial institutions already use, adding “smart” functionality, such as composability and programmability.<\/p>\n

The central bank also stressed that no decision has been made whether to issue a CBDC. Therefore, the design presented by the paper should only be considered a preliminary one. <\/p>\n

The central banks of almost all the developed economies across the world have at least been exploring the possibility of issuing a CBDC for several years. <\/p>\n

While their proponents argue they are a tool for financial inclusion and a means of future-proofing fiat currencies against the decline in cash usage, they are also criticized<\/a> by those who see them as a Trojan horse for reinforcing state control over the use of money.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bank of Israel has put forward a possible design for a central bank digital currency (CBDC) should the decision be made to introduce one in the future. The central bank described the proposed digital shekel (DS) as a “multipurpose CBDC”, to wit it would be for both retail and wholesale use, in a paper […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16125","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16125"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16125\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}