Even though in the condition of a constant conflict, Palestine is still making efforts to manage the world advancements, this time with cryptocurrency.
Just another point of view… Cash costs money. Not all countries can have own currency, and they have to pay huge fees to use the currency of another country. Palestinians got their passports just in 1994, and in 2015, they got their national flag. Though, having national currency it still something not completed. The most common currencies in the country are the US dollar, the Jordanian dinar and the Israeli shekel, and for the use of all of them the country pays…
Cryptocurrency looks like a perfect solution for Palestine. Well, of course, bitcoin or any other digital currency aren’t up to become a national Palestinian currency, but they can be used worldwide wherever they are accepted, and the most important – they can be used on common conditions. Though, that seems not to be enough for Palestine. What about creating the own cryptocurrency that could be used as the national Palestinian currency?
The idea seems to be a perfect solution. The Palestinian government is promising to solve this within the next 5 years, and for now, they are checking all options and regulatory opportunities.
Own currency would create some issues like the transactions in it would be needed to be approved by Israel, which could create more disadvantages rather than advantages. Though cryptocurrency is something completely different, and it only could strengthen the Palestinian economy significantly as well as give the country more financial independence.