Israeli Prime Minister has called for the development of a blockchain-based solution to counter potential economic sanctions facing Israel.
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Israeli Prime Minister Benjamin Netanyahu said in an interview broadcast Friday that he has ordered the development of a blockchain-related plan to help Israel prepare for potential future economic sanctions, including banking restrictions. When asked if blockchain could act as an alternative to counter sanctions, Netanyahu replied that blockchain is one of the viable options, and has tasked relevant parties with drafting the plan. However, he did not disclose specific responsible bodies, the type of blockchain or cryptocurrency involved, or the timeline for the plan’s implementation. Netanyahu also warned that U.S. military aid to Israel cannot continue indefinitely, noting that Israel needs to reduce its reliance on external support. He added that an additional 400 billion shekels (equivalent to roughly $129 billion) will be allocated to national defense over the next several years, to strengthen the domestic production capacity of ammunition and weapons, while preparing for potential changes in the U.S. political environment.
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