Netanyahu floats use of blockchain as solution to potential financial sanctions

Ahead of elections, Prime Minister Benjamin Netanyahu said Israel could turn to blockchain and crypto to skirt potential international sanctions, to the dismay of opponents and the country’s central banker.

Blockchain has become an issue in this week’s Israeli elections after Prime Minister Benjamin Netanyahu said Friday that the country could turn to cryptocurrency to avoid strains on the economy from any potential international financial sanctions.

He told a local television interviewer that Israel is exploring the use of blockchain technology and cryptocurrencies as a means of circumventing potential banking sanctions.

“Blockchain is an alternative to sanctions,” the prime minister said in an interview with Israel’s Channel 10 economic network on Friday.

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