security

Israel and Hong Kong Team Up to Test Digital Currency Cyber Risk – Bloomberg Law


June 16, 2022, 1:00 PM

The Bank of Israel is working with the Hong Kong Monetary Authority on a trial which will test a new digital currency, including against cyber security risks, the Bank of Israel said.

The joint project, which will start in the third quarter, will use a two-tier central bank digital currency (CBDC), it said in a statement. It will be issued by the central bank and then distributed by financial intermediaries like banks.

In fits and starts, Israel is coming around to explore the idea of a CBDC after shelving its initial effort in 2018, when a team set up by …



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.