Potential Benefits, Draft Model, and Issues to Examine

Overview: The objective of this publication is to update the professional community—the payments, finance, and technology sectors, academia, relevant government agencies, and various organizations—regarding progress in the Bank of Israel’s examination of CBDC issues, in order to encourage these entities as well to think about the issue. In order for the action program that the Bank of Israel is preparing to be as informed and comprehensive as possible, it will be important for the Bank of Israel to track the thinking that will develop among various entities in the Israeli economy, even if it is decided in the end not to put the plan into action. The Bank of Israel calls on these entities to provide the Bank with written comments on the contents of this document and on the relevant aspects of a possible future issuance of digital currency by the Bank of Israel