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Netanyahu proposal for blockchain-based economy
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2026-10-26 15:38 UTC → 2026-10-26 20:50 UTC ·
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Israeli Prime Minister Benjamin Netanyahu has proposed the development of an alternative economic framework utilizing blockchain technology and cryptocurrencies. The goal of this proposal is to mitigate the potential impact of international banking sanctions and prepare the nation for possible economic isolation. During an interview with Channel 10, Netanyahu stated he had requested a plan to utilize these technologies to maintain financial flows if conventional banking channels are restricted. However, the Bank of Israel formally rejected the idea, stating that digital assets do not provide a viable method for circumventing sanctions and that the economy is better served by maintaining strong relationships with major trading partners. The proposal has met significant domestic opposition. Over 100 economists, including Nobel laureates and former central bank officials, signed a letter describing the plan as “useless” and warning it could lead to higher unemployment and a collapse in foreign investment. Political opposition leaders, including Gadi Eisenkot, have characterized the move as a threat to national security regarding foreign investment and international payments. In a recent development, Netanyahu has instructed officials to prepare for the possibility that United States military aid may cease, describing the potential end of such support as “only a matter of time.” This directive includes orders to develop plans to mitigate the impact of economic and banking sanctions through alternative financial mechanisms, including blockchain technology. These discussions shifts occur amid growing international pressure concerning Israeli policies in Gaza and the West Bank, including trade restrictions on settlement imports from countries such as changing public opinion in the United Kingdom, France, and Canada. The debate has intensified just days before Israel’s parliamentary elections scheduled for October 27. States, particularly among younger demographics.
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- 2026-10-26 20:50 UTC Netanyahu proposal for blockchain-based economy
- 2026-10-26 15:38 UTC Netanyahu proposal for blockchain-based economy
- 2026-10-26 06:26 UTC Netanyahu proposal for blockchain-based economy
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