It has been reported that Palestinian Minister Mohammad Shatayyeh, is considering cryptocurrency as an alternative to Israeli Shekel.
Many disagrees to the Prime minister’s initiative to use cryptocurrency as it may not provide solution he is looking for to address his country’s financial needs and problems that stems from the complicated socio-economic relationship of the two countries.
The Israeli Shekel has been the prime monetary unit in every transactions between Israelis and Palestinians which was been signed in Paris in 1994, including the creation of Palestinian Monetary Authority which has the powers of a central bank without the ability to issue banknotes.
However a professor from Naja University in Nablus states that the problem is not the currency itself by the complex economic and political reliance on Israel which can control movements of exports and imports.
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