not everywhere· Politics· Updated 23 Oct, 21:53

Netanyahu Proposes Blockchain Economy Amid Sanctions Threat

Prime Minister Benjamin Netanyahu warned on Friday that Israel must prepare for potential international banking sanctions and suggested using cryptocurrency and blockchain technology to bypass them. Speaking on Channel 10 just five days before the national elections, Netanyahu confirmed he has requested a plan to develop alternative financial mechanisms, expressing concern over the possibility of economic boycotts expanding into Israel's financial sector.

5 newsrooms · 2 languages · since 23 Oct, 18:06

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What happened

01Prime Minister Benjamin Netanyahu warned that Israel must prepare for potential international banking sanctions.
02Netanyahu suggested using cryptocurrency and blockchain technology to bypass financial restrictions and requested a contingency plan.
03The Prime Minister warned that U.S. military aid is not guaranteed indefinitely and will eventually end due to changes in America.
04Opposition leader Yair Lapid reacted to Netanyahu's financial proposal, calling the idea crazy but correct.
05Critics warned that a blockchain-based economy would further isolate Israel, deter investors, and accelerate capital flight.
06The statements were made on Channel 10 on Friday, just five days before the upcoming Israeli elections.

In addition to the economic warnings, Netanyahu cautioned that Israel must prepare for the eventual end of U.S. military aid, stating that the tens of billions of dollars in assistance secured in the past is not guaranteed indefinitely due to changes in America. He characterized the cessation of this aid as only a matter of time.

Netanyahu's proposal drew immediate reactions. Opposition leader Yair Lapid described the idea as crazy but correct. Conversely, critics warned that establishing a blockchain economy to evade sanctions could increase Israel's isolation, deter international investors, and accelerate capital flight from the country.

Summarized by baba from the reports of 5 newsrooms. Updated 00:41