Netanyahu Orders Blockchain Backup Plan Amid Sanctions Fears

Israeli Prime Minister Benjamin Netanyahu told Channel 10 on Friday that the country needs fresh financial tools to reduce exposure to banking sanctions. He confirmed he has already ordered a plan to explore blockchain technology as one option.

The move comes against a backdrop of mounting international criticism over Israel’s actions in Palestine and settlement construction. A database maintained by the Jewish People Policy Institute lists 15 measures from the US, 10 from Spain, 8 from the UK, 7 from Turkey and 5 from Belgium.

Netanyahu also cautioned that Israel should no longer count on steady US military aid worth tens of billions of dollars. Blockchain is seen as a potential route for cross-border payments if conventional banking channels are restricted.

Details on specific cryptocurrencies, responsible agencies or timelines were not provided.

Based on information from cryptonews.net