What Can The Israeli Government Teach Us About Cryptocurrencies?

Israel just made a very interesting use of crypto.

They are going to give their newly elected President Isaac Herzog a copy of his oath as both a physical item, as well as an NFT.

This is a very interesting use case for NFT’s, and this seems like it is just the beginning.

That’s not all though.

Israel is also attempting to seize over $7 million worth of cryptocurrencies from Hamas. It looks like Israel’s government realizes both the use cases of crypto, and just how important cryptocurrencies have become strategically speaking.

National governments are now moving to take digital assets away from opposing factions or enemies, and this highlights that cryptocurrencies are doing their jobs: they have become excellent stores of value, and mediums of exchange.

Personally, I cant wait to see what the future holds.

Check it out:

The sworn-in of Isaac Herzog as President of the State of Israel is making History also in the blockchain ecosystem.
Isaac Herzog has received the oath of office as the sixth Israeli President of his father Chaim Herzog as a NFT.

➡️https://t.co/3edcOj3qY2 pic.twitter.com/YljHCEwQiJ

— Samuel Sabbah (@Samuel_Sabbah) July 7, 2021

The NFT is a digital representation of the oath of office signed by Israel's sixth president, Chaim Herzog, who is the father of President-elect Isaac Herzog.#crypto $doge

— Doge Report (@_DogeReport) July 7, 2021

Crypto Briefing reported this historical event:

In this case, the NFT is a tokenized replica of the oath previously taken by the new president’s late father, Chaim Herzog, who served as Israel’s sixth president between 1983 and 1993.

The physical document digitized in the NFT dates to May 5, 1983 and was the former president’s pledge “to maintain allegiance to the State of Israel.”

The token is intended to be a souvenir drawing a parallel between Israel’s historic past with its present.

Knesset Speaker Michael Levy, who will present Herzog with the NFT, said:

“I am thrilled to give President-elect Herzog a special memory from his father that includes the wording of the oath he signed 38 years ago.”

Israel just issued a seizure order of 83 Hamas-linked crypto wallets. @elliptic’s analysis finds the wallets received $7.3 Million in crypto, including $40K in Dogecoin(!) https://t.co/fMBj2HAUXd

— Nicole Perlroth (@nicoleperlroth) July 7, 2021

Palestinian militant group Hamas has seen a spike in crypto donations to fund its operations since its renewed armed conflict with Israel, report says https://t.co/V4emrqiDVC

— Robert Caruso (@robertcaruso) June 4, 2021

U Today had an interesting report on Israel’s move to seize over $7 million in crypto from Hamas:

The Israeli government has moved to confiscate 84 cryptocurrency wallets that are linked to the Hamas terrorist organization, according to an administrative seizure order issued by the National Bureau for Counter Terror Financing.

Apart from Bitcoin, the members of the Islamist terror group also own a vast array of cryptocurrencies. According to blockchain sleuth Elliptic, the wallets collectively have $7.3 million worth of crypto.

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