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Monday, May 22, 2017

Palestine Considers Launching Its Own Bitcoin, But Why Reinventing Wheel?

Palestine Considers Launching Its Own Bitcoin, But Why Reinventing Wheel?

In a bid to free its economy, Palestine is considering a digital national currency. But with Bitcoin around, is it worth reinventing the wheel?

There are many countries that do not have a national currency and instead use another country’s currency in daily lives. For example, East Timor, British Virgin Islands, Palau and Zimbabwe use the US dollar. Similarly, Montenegro, San Marino and Kosovo use the Euro. The case of Palestine is an interesting one as it uses multiple currencies like the US dollar, Jordanian Dinar and the Israeli Shekel.

Now, it has emerged that the Palestine Monetary Authority (PMA) is planning its own digital currency, something of a Palestinian Bitcoin.

Full story at http://bit.ly/2r7In7E

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