BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Israel Embraces Web3 By Creating A Platform For Digital Assets

BlockNews Team by BlockNews Team
October 26, 2022
in Crypto, Media, Politics, Social
Reading Time: 4 mins read
A A
Israel-Web3-Bitcoin
1
SHARES
13
VIEWS
Share on TwitterShare on Reddit

Since the evolution of Web3, the world has witnessed financial flexibility and growth. The decentralization of currencies and fiat has further given control of funds to the people rather than a centralized governing body.

You might also like

Binance Space ID Tokens Launchpad Secures BNB Commitments Worth $2.8 Billion

Coinbase Argues Software Services Are Not Securities: A Case Against the SEC

Nigeria Now Enabled to Make Direct Crypto Purchases Through MetaMask

This crypto promotion in the financial industry has encouraged many countries to adopt the web3 experience and broaden the development of the financial sector.

Israel is the latest country to embrace the web3 universe, as the Tel-Aviv Stock Exchange (TASE) recently announced its five-year road map and its inclusion of tokenization as a chance to serve the desires of the people adequately.

It is great news for crypto enthusiasts who can now explore the web3 space. This strategic plan by Tel-Aviv Stock Exchange is primarily to create a platform for digital assets by enhancing innovative technologies’ execution through DLT (Distributed Ledgers) and smart contracts (codes written to execute transactions in a blockchain).

What Is Tel-Aviv Stock Exchange (TASE)?

Tel-Aviv Stock Exchange is an exclusive public trading platform in Israel specializing in debt and equity. Being the only public stock exchange company in the country, TASE has gained influential members and partners since its inception in 1953.

TASE plays a significant role in Israel’s economy. There are 23 members of the exchange company, which majorly includes investment houses and large banks. TASE is known for alleviating the Israeli economy from debts by raising capital for companies and the government.

Legally regulated by the 1968 Securities Law and supervised by the Israel Securities Authority (ISA), the Tel-Aviv Stock Exchange is estimated to have an Equities market cap price of $ 216 billion and $196 billion in Bonds. This has made the company a household name, achieving hundreds of feats for over 69 years of its operations.

Adoption Of The Web3

Announcing the decision of the Board of Directors on Monday, 24, 2022, Tel-Aviv Stock Exchange released its plan of action for the next five years (2023-2027). stating that one of its objectives was to develop a platform for virtual properties by using blockchain (Distributed Ledger) and advancing into the crypto world.  

The CEO, Ittai Ben-Zeev, further stated that TASE would explore several ways to develop the transformation of the present infrastructure into innovative technologies and provide a myriad of products and services of digital assets to the public.

The founder of CryptoJungle, an Israeli crypto media outlet, Ben Samocha, praised this positive transition by Israel’s only public stock exchange company by stating that TASE’s move is an approval of the country’s acceptance of crypto. He mentioned that this is a bold and successful move as the mechanism that powers the virtual assets can also boost the traditional financial sector.

Ittai Ben-Zeev notes in the announcement that the company recognizes the market’s and its customers’ needs. Hence, strategizing for its next five-year to not only initiate but champion the web3 universe by creating a platform for digital assets that its customers can better access and enjoy its services to the next level.

What Does This Mean For The Future Of Crypto In Israel?

Having the biggest public financial stock exchange declare its transition to the web3 space by building a platform to accommodate digital assets is the right step into constructing a world whereby large-scale companies can conduct their transactions in a decentralized system effortlessly and adequately.

According to the CEO, the goal of the Tel-Aviv Stock Exchange (TASE) is to grow the community capital market’s project to match the country’s economy. 

Focusing on reshaping the ideology around the traditional financial sector by embracing the cryptocurrency market and boosting the growth of the country’s economy, TASE has paved the way for the mass acceptance of trading with digital assets. 

The Israeli financial market has long since requested the conversion from the traditional financial sector into the modern blockchain ecosystem, whereby monetary transactions and other activities are made without delay and with ease.

TASE plans to expand its market reach and aims to record high-yielding profits from the strategic goals announced on Monday, 24, 2022.

Conclusion

TASE, the only public stock exchange company, recently announced its vision of embracing the crypto market by building a platform for digital assets. This expansion is the first of many blockchain-based business moves to boost Israel’s economy as the country has opened its arms to crypto. 

Tags: Digital PlatformIsraelWeb3
TweetShareShare

Recommended For You

Binance Space ID Tokens Launchpad Secures BNB Commitments Worth $2.8 Billion

by BlockNews Team
March 24, 2023
0
space ID logo

More than 8.4 million BNB tokens were for up for the Space ID token sale Space ID earned $2.85 billion within 48 hours Final allocation will be based...

Read more

Coinbase Argues Software Services Are Not Securities: A Case Against the SEC

by BlockNews Team
March 24, 2023
0
coinbase

Coinbase CLO Paul Grewal announced that the company provided details to the SEC about why staking services are not securities Grewal saw the SEC’s perspective on software services...

Read more

Nigeria Now Enabled to Make Direct Crypto Purchases Through MetaMask

by BlockNews Team
March 24, 2023
0
metamask

Nigerians can now buy crypto using MetaMask instead of centralized exchanges Crypto fintech MoonPay merged with ConsenSys to allow users to buy cryptocurrencies through direct bank transfers Nigeria...

Read more

FTX Is Looking To Recover $460M From A Venture Capital Supported By Bankman-Fried’s Alameda Research

by BlockNews Team
March 24, 2023
0
ftx

FTX files for return of $460 million investment funds made to venture capital firm by Sam Bankman-Fried through Alameda Research. When he invested, Sam Bankman-Fried was allegedly in...

Read more

OpenZeppelin Reveals Top 10 Blockchain Hacking Techniques in 2022

by BlockNews Team
March 23, 2023
0
OpenZeppelin

OpenZeppelin's top 10 hacking methods of 2022 serve as a sobering reminder of the value of cybersecurity and the need for ongoing research to make blockchain systems more...

Read more
Next Post
Defi-Projects

Top 5 DeFi Projects To Watch In 2023

Related News

sec building thor technologies

SEC Charges Thor Technologies For $2.6 Million Unregistered Coin Offering

December 28, 2022
Eth-Logo

Ether Open Interest Retraces From Record Highs – What It Means For ETH Price 

September 12, 2022
Fidelity-Building

Fidelity Officially Opens Retail Crypto Trading Accounts

December 2, 2022

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Binance Space ID Tokens Launchpad Secures BNB Commitments Worth $2.8 Billion March 24, 2023
  • Coinbase Argues Software Services Are Not Securities: A Case Against the SEC March 24, 2023
  • Nigeria Now Enabled to Make Direct Crypto Purchases Through MetaMask March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?