Israel has already tested a digital shekel cryptocurrency


JPost: Israel has already conducted a pilot test of a digital shekel cryptocurrency, Bank of Israel Deputy Governor Andrew Abir said, perhaps inadvertently, at a recent conference of the Fair Value Forum of IDC Herzliya.

Toward the end of a panel discussion, Abir said the Bank of Israel had already run a digital currency pilot. Another member of the panel seemed surprised and asked: “You have already issued a coin?” Abir responded in the affirmative.

However, Abir said he was not optimistic that such a central-bank digital currency (CBDC) would ever be launched.

“I had previously estimated that the chance of having a CBDC within five years is 20%,” Abir said. “My estimate has increased a bit in the last year, mainly because other countries are advancing with it too. But still there is less than a 50% chance.” Read More 

Opinion: How interesting that beginning with China’s digital yuan, central bankers continually play down their intentions to bring CBCDs to the global marketplace. The reason only makes their future use more compelling.

Bankers fear that digital currencies will take business away from the financial industry, causing a sudden flow of funds out of bank deposits into CBDCs. The feared result is an economic shock that could cause a double-dip recession.

When the time is right, we expect central bankers in all 7 major economies (below) to eliminate cash, outlaw bitcoin and the stable of cryptocurrencies, and issue a programmable digital currency with an expiration date, in preparation for Revelation 13:16-17.

7 leading central banks:

  • U.S. Federal Reserve System (Fed)
  • European Central Bank (ECB)
  • Bank of England (BOE)
  • Bank of Japan (BOJ)
  • Swiss National Bank (SNB)
  • Bank of Canada (BOC)
  • Reserve Bank of Australia–RBA.

Israel has no intentions of being left out.