"The Israeli regulators have been looking into digital currencies for a while, we were even part of this conversation. If this initiative becomes a reality, Colu will be happy to collaborate as we believe digital currencies are the future of money."
-Mark Smargon, VP Blockchain Colu
Israel's ministry of finance is planning to introduce a national cryptocurrency for their nation which will be called Digital Shekel. The purpose of this big change is to counter the growing black market economy in Israel. They are also planning to add laws against issuing wages in cash.
They are not the first to do this. Russia, Dubai, and China have also expressed intentions to create their own national cryptocurrency.
If this trend continues, physical cash might just become the new attraction in museums.
