The Palestinian government intends to use cryptocurrency to replace the French currency Shekel

Palestinian Prime Minister Mohammad Shtayyeh recently confirmed that his government plans to use cryptocurrencies to overcome Israel’s obstacles to the Palestinian economy. Shitaye said he would consider every possibility that Israel could not stop and reiterated his commitment to “find alternative currency” when he took office on April 13th: “About 25 billion shekels in the Palestinian economy ($7 billion), but we will not be forced to continue to rely on Shekel.” However, some researchers say that in theory, it is possible to issue a national digital currency that can replace Shekel, but there are many difficulties in practice. Before the central bank issues sovereign currency, the government needs to create a favorable economic environment.