Published On: Mon, May 15th, 2017

Palestine May Launch Its Own Cryptocurrency as Sovereign Legal Tender

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Palestinian officials are planning for the region of Palestine to receive its own digital currency within the next five years. The motivation for this stems from concerns about potential Israeli interference, Azzam Shawwa, Governor of the Palestinian Monetary Authority (PMA), told the news agency Reuters.Palestinians have no sovereign currency of their own and use a combination of different currencies, including the euro, the dollar, the Jordanian dinar and the Israeli shekel, to conduct their daily financial transactions. Due to the lack of a sovereign currency, Palestinian officials have little control over money supply and inflation. This is why the …

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