Netanyahu Explores Blockchain as Hedge Against Potential Sanctions
Translated & summarized from Davar by baba
Prime Minister Benjamin Netanyahu is developing plans to use blockchain technology to bypass potential international banking sanctions against Israel. He also expressed concerns about future U.S. aid and stressed the need for Israel's armament independence. Netanyahu defended his free-market economic policies, attributing past successes to the Likud party and criticizing former officials.
The story in 5 lines · by baba
- Prime Minister Netanyahu is preparing plans for blockchain use to bypass potential banking sanctions.
- Netanyahu fears potential banking sanctions and seeks an alternative economic strategy.
- He warned of a possible reduction in U.S. defense aid after President Trump's term.
- The Prime Minister emphasized Israel's need for armament independence.
- Netanyahu defended his free-market economic policies, led by the Likud party.
Prime Minister Benjamin Netanyahu has instructed officials to prepare plans for utilizing blockchain technology as a means to circumvent potential international banking sanctions against Israel. In an interview, Netanyahu expressed concern over the possibility of such sanctions, stating, "There can be banking sanctions, we need to prepare an alternative economy." He identified cryptocurrencies as a potential tool for this purpose.
Netanyahu also warned of a potential shift in the U.S. stance towards Israel, noting that the current level of support, including tens of billions of dollars in defense aid, might not continue after President Trump's term. He emphasized the need for Israel to achieve armament independence and stressed that security is a prerequisite for economic growth. Netanyahu defended his economic policies, citing praise from economist Milton Friedman for his performance as finance minister and asserting that the free market economy is led by the Likud party.
He dismissed the influence of Knesset members with social democratic views or those supporting organized labor on government policy. Regarding specific economic reforms, Netanyahu mentioned his intention to dismantle the "agricultural lobby" and claimed credit for numerous free market reforms, while criticizing former official Yigal Zecharya for appropriating his achievements and representing large labor committees rather than competition.
