Israel’s regulator teases comprehensive crypto framework at ICC

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. While regulation is always a hot topic for the crypto scene, it is always interesting to take a sneak peek behind the curtains and get a sense of how the people writing the rulebook see the state of the game. In late May, Israel’s crypto enthusiasts and entrepreneurs got a chance to do just…

Public Consultations Reveal Positive Interest in Bank of Israel’s Digital Shekel – Finance Bitcoin News

A survey carried out by the central bank of Israel has returned mostly positive responses from stakeholders regarding the possible issuance of a digital shekel currency. Many of the participants in the public consultations support the continued development of the project, the regulator said. Bank of Israel Releases Results From Consultations on Digital Shekel Project Israel’s monetary authority has recently published a paper detailing the outcome of public consultations held to gather opinions from interested parties on its central bank digital currency (CBDC) project. The regulator announced it had received…

Israel’s Securities Regulatory Chief Lays Out Crypto Plans

The ISA is looking to attract blockchain-based solutions that can improve the infrastructure supporting the securities and sovereign debt markets in Israel with the hackathon. The securities regulator has partnered with the Ministry of Finance in Israel, Start-Up Nation Central, as well as tech providers like VMware, Digital Asset and Algorand to host the onsite hackathon, which will be held on March 24, 2022, in Tel Aviv. Source

Israel’s Bank Hapoalim joins blockchain bank guarantee platform

One of Israel’s largest banks, Bank Hapoalim, has joined a blockchain-based platform recently released by IT firm Tata Consultancy Services, or TCS. TCS’ platform, dubbed Digital Bank Guarantee, is based on the Quartz blockchain and targets the digital banking industry in Israel. The new tool will supposedly help banks more effectively manage the lifecycle of bank guarantees including issuance, modification, termination and invocation. Bank guarantees are a financial safeguard offered by banks, in which a lender ensures the obligations of a debtor are met. If a debtor fails to settle a…

Israel’s Security Matters to Utilize Blockchain for Cannabis Tracking

The Israeli-based company Security Matters is looking to bring cannabis and CBD products into a transparent blockchain environment. Security Matters is well known for its relevance in the supply chain sector. The blockchain-oriented company already has a platform that helps to mark and track seeds and plants from the very beginning, making it easy to identify and control the plants and resultant products. To cater to a larger population, Security Matters has filed for a patent to bring cannabis and its related products to the blocks. According to the blockchain…

Israel’s Top Cargo Shipping Firm Zim Opens Blockchain Platform to All Clients

Israel’s largest cargo shipping company Zim has opened its blockchain platform for electronic bills of lading (eB/Ls) to all clients in selected trades. Global shipping news outlet TradeWinds reported the news today, Jan. 14. Following a successful pilot of its blockchain-powered eB/Ls platform that lasted for over a year, the shipping firm has claimed that blockchain can not only replace the currently existing paper-based processes, but also improve the workflow conducted via email, fax, and other channels. According to TradeWinds’ report, two recent transactions on the platform were successfully conducted…

Israel’s Central Bank Issues Request for Information on DLT

A team that includes representatives from the Bank of Israel has issued a formal request for information about Distributed Ledger Technology (DLT), published on its website Dec. 18. The request — the goal of which is, as per the title, the “Regulatory Coordination of Virtual Assets”— states that “the regulators of the Israeli financial system believe that there is room to renew and strengthen cooperation and coordination among all regulators and the public” regarding DLT. Besides the country’s central bank, the team reportedly includes representatives from the country’s Securities Authority,…

Israel’s Central Bank ‘Not Recommended’ to Issue Own Digital Currency

An Israeli study group exploring digital currency options has recommended that the country’s central bank not issue its own token, a press release confirmed Nov. 6. The interdepartmental team, set up in November 2017 by the governor of the Bank of Israel to “examine the issue of central bank digital currencies [CBDCs],” revealed its findings in a full report this week. “Central banks around the world are examining the possibility of issuing digital currency and/or using distributed technologies in the payment systems, but no advanced economy has yet issued digital…