Benjamin Netanyahu Was Re-Elected, That This Means For Bitcoin In Israel?

As you may have heard, Benjamin Netanyahu is, once more, the Prime Minister of Israel. He will start his fifth term now in this position. After his victory, he affirmed that he wished to establish a strong and stable national government.

What matters to us here, though, is what this means for Bitcoin and the blockchain technology. So far, it seems that Netanyahu does not represent a threat to the sector. In fact, he has not done anything so far that would indicate that his often pro-blockchain view would change now.

He has once affirmed that the blockchain technology can eventually disrupt the banking sector. He made this claims on December 2017, during the height of the Bitcoin bull market. At the time, he said that the main function of banks and financial institutions is to ensure the validity and the security of transactions and that the blockchain can do just that.

Many people, like the founder of the ZEN Protocol, Adam Perlow, or the CEO of P2P platform anywhere, Rami Shechter, have agreed with his opinions on Bitcoin during that occasion.

With these views, the crypto community can rest assured that no bans will come to the sector in the next couple of years and that Israel will continue to treat cryptos in a positive light. Israel is a country which is seeing fast growth in the blockchain technology and it seems like things will continue to be that way.

Not everybody in Israel shares the same opinion as Netanyahu. The former Prime Minister, Ehud Barak, has recently affirmed that he may agree with the current PM on the blockchain technology, but he is not so positive about Bitcoin, which he has called a Ponzi scheme.

The Future Of Bitcoin And The Blockchain In Israel

It is no secret that Israel is a powerful blockchain hub. Nimrod May, the Chief Marketing Officer of Sirin Labs, has recently affirmed that the country has finally upgraded from being a startup country to a full-fledged crypto nation. According to May, this was part of a “natural selection” process.

He also said that the blockchain is a very important and game-changing technology and that it represents a strong combination of deep thinking and value creating that will benefit the whole industry. Many companies in the country are using the technology, so a tidal wave of blockchain is coming, he affirmed.

It is also important to notice that the current PM has a majority of seats in the legislative arm of the government, so passing legislation that affects this industry will not be a huge challenge. With a pro-blockchain government, there is no doubt that this tidal wave will continue to grow and that the country will a massive growth in this industry.

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