The post COTI Selected for Bank of Israel’s CBDC Initiative appeared on BitcoinEthereumNews.com.

COTI joins the Central Bank of Israel’s CBDC project with 13 other well-known companies. COTI’s blockchain ensures unparalleled privacy and security for CBDCs, meeting regulatory requirements. In a tweet, COTI announced that they had been selected to join the Central Bank of Israel’s Central Bank Digital Currency (CBDC) project. This project, which involves 13 well-known companies such as Qedit, Paypal, 0xPay, and Fireblocks, represents a big step forward for COTI’s privacy-focused infrastructure. COTI will take part in the Central Bank of Israel’s #CBDC project alongside giants like @PayPal and @FireblocksHQ This is a major milestone for COTI as it positions itself as a leader in the CBDC market! 🌟 Read more: https://t.co/OQrQ5YKqtt 1/3 🧵 pic.twitter.com/5YFxqJ595D — COTI Foundation (@COTInetwork) July 23, 2024 Bank of Israel Deputy Governor Andrew Abir said, “I am pleased at the tremendous response to the Digital Shekel Challenge, and I thank the teams that have agreed to provide their time, resources, and capabilities to actively cooperate with us in the thinking, planning, and design of the digital shekel.” He added: “We have learned quite a lot from the process thus far in building the Challenge and in discussions with the teams that have shown interest, and I am certain that we will learn much more from the case uses that will be developed by the selected participants. The digital shekel’s potential to create innovation in the payments array will depend on the private sector’s ability to leverage the platform that the Bank of Israel will build, which is what makes this Challenge so important.” Pioneering Privacy and Security in CBDC Development  COTI’s engagement in this project highlights the importance of privacy and security in CBDC development. As the sole blockchain network chosen for this endeavor, COTI puts its experience at the forefront, with a focus on…

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Filed under: News - @ July 24, 2024 3:16 pm