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Bank of Israel investigates anonymous digital shekel payments

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finextra.com

The experiment examined a model developed by VMware that would see citizens have a wallet that can hold “ordinary” digital shekels, the transfer of which is recorded in the ledger, and “private” digital shekels, the transfer details of which are not recorded openly, and where both sides to the transaction enjoy complete privacy as with cash payments.

The bank or government would set out a periodic “budget” for payment using private shekels. For instance, each wallet would be able to pay up to 1000 shekels per month privately, and beyond that each transaction would be recorded in the ledger.The central bank says that the experiment proved the technical feasibility of the system but there are still a host of policy questions that need to be addressed.

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