Bank of Israel Launches Digital Shekel Challenge

The Bank of Israel has announced the Digital Shekel Challenge, inviting various entities — private companies, public sector organizations, and academic institutions — to participate in the digital shekel’s experimental environment. The initiative aims to foster the development of innovative payment solutions using the digital shekel, leveraging its Application Programming Interfaces (APIs). Participants are expected to create groundbreaking applications and services that enhance the efficiency and inclusivity of the payment system in Israel. The selected projects will be showcased at a dedicated conference, providing a platform for collaboration and knowledge exchange. The challenge is part of the broader efforts by the Bank of Israel to explore and integrate central bank digital currencies (CBDCs) into the financial ecosystem, aiming to foster a more advanced and resilient payment infrastructure.

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