JP Morgan Yoav Intrator: Israel's adoption of digital currency depends on its treatment of fiat currency use

Dr. Yoav Intrator, Director of JP Morgan Israel Herzliya Technology Center, introduced the center's work, including data analysis, digital currency, blockchain, fintech strategy, and artificial intelligence. According to Intrator, "If Israel intends to switch to digital currencies, it will depend to a large extent on its willingness to address the concerns on this issue that still use fiat currencies such as sovereign currencies such as Shekel or the US dollar. Multiple markets There are many opaque places, and the government has lost a lot of money. Every country that has a black market or a market that uses cash faces such problems. "Speaking of public trust in banks, Intrator said:" In digital currencies such as Bitcoin In recent years, a large number of frauds have occurred worldwide. But if banks disclose even one percent of frauds, they will face serious problems. Banks cannot afford to engage in the costs of unregulated activities. That's not going to happen for new banks. New banks are being set up from time to time around the world, and for these banks it takes a long time to gain public trust and it must be constantly maintained. "