🚀Israel is speeding up its central bank digital currency (CBDC) development, aka the digital shekel. The Bank of Israel (BoI) is calling all tech wizards to join the "Digital Shekel Challenge" and build a real-time CBDC payment system.🔧💻

Inspired by "Project Rosalind" (a joint effort by the Bank for International Settlements and the Bank of England), the challenge will provide a sandbox environment with APIs for participants.🧪🔬

Despite the current exclusion of DeFi, zero knowledge, and permissionless solutions, this initiative could bridge the gap between the Web3 industry and the government. So, if you're a tech enthusiast from the private, public, or academic sector, here's your chance to shine!🌉🌟

While CBDCs are designed for universal use, participants can also develop solutions for specific niches and scenarios. The BoI deputy governor believes public support for the digital shekel is strong and that it could encourage banks to offer higher interest rates.💰💹

However, there are concerns about potential privacy breaches. What are your thoughts on this? Let's discuss in the comments!👇👇👇 #DeFi #Web3 #CBDC #Israel #DigitalShekel