The Bank of Israel’s multi-purpose CBDC plans

Preliminary designs have been published for the Bank of Israel’s digital shekel. Though it draws on impressive existing central bank CBDC research, it also makes a number of novel contributions, including collapsing the distinction between retail and wholesale digital currency systems.

Yoav Soffer, project manager of CBDC and adviser to the deputy governor at the Bank of Israel, joins OMFIF to explore the potential design of the digital shekel, including the currency’s ecosystem, policy and regulation and user journey.