The Bank of Israel published a study assessing the Israeli public’s willingness to adopt a digital shekel, intended to inform the ongoing business and functional design of the proposed system. The research finds strong stated interest, with 51.57 percent of respondents reporting a high level of interest in using a digital shekel, including 34 percent expressing very high interest and 17 percent medium-high interest. Reported drivers of willingness to use a digital shekel centred on ease of use, alongside customer protection against fraud and system errors, central bank backing and perceived innovation. Key concerns focused on cybersecurity and information security risks, difficulty of use and limited accessibility for certain population groups. Interest was higher among men than women and was positively correlated with age and income, while education level was not an influencing factor; interest was lower in the Haredi (ultra-Orthodox) community and highest among secular individuals. Higher financial and digital literacy, self-assessed technological proficiency, holding cryptocurrencies, risk propensity and greater trust in the Bank of Israel were also associated with greater interest, and the study highlights differences from some other central bank studies, including around privacy and the direction of the age effect.
Bank of Israel 2025-02-17
Bank of Israel study finds 51.57 percent of Israelis show high interest in using a digital shekel
The Bank of Israel's study on the adoption of a digital shekel reveals strong public interest, with 51.57% of respondents showing high interest, driven by ease of use and central bank backing, but tempered by cybersecurity concerns. Interest varies by demographics, with higher interest among men, older individuals, and those with higher income, while the Haredi community shows lower interest.