Israel Considering A Digital Currency.

With Bitcoin going mainstream, Israel's Central Bank is considering a digital currency of its own, only pretty much the opposite of everything crypto's are.

A source from the Bank of Israel said, any digital currency produced by the Israel Bank would be centralized, in contrast with Bitcoin which is touted as being decentralized, Israel's Digital currency would be created in hope to limit the countries cash flow and help reduce tax evasion.

Cryptocurrencies allow parties to transact payments peer 2 peer without a central means, by use of blockchain technology that runs off a shared ledger that verifies, records and settles transactions in minutes. Although in Israles case they want all this but still with a centralized handler in the middle, being them...

Will it get off the ground ? And how long till other world bank's follow suit?

Source:

https://www.reuters.com/article/us-israel-cenbank-currency/israel-central-bank-mulls-issuing-digital-currency-for-faster-payments-idUSKBN1EI0D5