Palestine to Adopt Own Cryptocurrency, the "Palestinian Pound," in Effort to Evade Israeli Manipulation
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"If we print currency, to get it into the country you would always need clearance from the Israelis and that could be an obstacle. So that is why we don't want to go into it," Shawwa explained to Reuters.
Azzam Shawwa is the governor of the Palestinian Monetary Authority (PMA). Because Palestine has no official currency of its own, and fears economic intervention/manipulation from Israel in the future, Palestine plans on adopting its own currency called the "Palestinian pound" within the next five years.
As it stands, Palestinians use the euro, the dollar, the Jordanian dinar, and the Israeli shekel for their daily transactions, with the Israeli shekel constituting the majority of money being used. Because interest rates for the shekel in Palestine are set monthly by Israeli authorities, many Palestinians are concerned about potential economic abuse, given the political climate in the region and history of virtually unending conflict between the two states.
One of the reasons, according to Shawwa, that the PMA has opted for blockchain based currency, is that it does not have to cross any physical borders like other monies would, and undergo censure from the Israeli government.
SOURCES:
http://www.reuters.com/article/us-palestinians-currency-idUSKBN18820A
~KafkA
Graham Smith is a Voluntaryist activist, creator, and peaceful parent residing in Niigata City, Japan. Graham runs the "Voluntary Japan" online initiative with a presence here on Steem, as well as Facebook and Twitter. (Hit me up so I can stop talking about myself in the third person!)
You'd think after what happened in the Ashkenazi Jew's history, they'd be more forgiving to others..but no. From the way it looks, if the Israel government have it their way, they'd Kristalnacht the whole Palestinian region.
Palestinian lives are hard as it is now. And it seems the only "wrongdoing" they did was being born in Palestine.
It's great that they adopt their own currency uncontrolled by other entities. More power to them.
It's very good information on your post. Save palestine!
does palestine actually produce anything?
I'm not sure. Seems like it would be awfully hard for anyone to produce anything in that climate.
does Israel produce anything...ya think? same climate.
What are you getting at here, Everitt? This is a post about Palestine potential adopting a cryptocurrency.
ok...
Alright...