Israeli Prime Minister Benjamin Netanyahu said he has called for plans to implement blockchain technology as a way to counter possible economic sanctions, according to an interview with Channel 10.
Netanyahu said blockchain technology serves as an alternative to counter possible banking sanctions. He added that he has plans to implement the technology in the event of economic sanctions against Israel.
A potential move by Israel to adopt blockchain technology to bypass sanctions would place it alongside other countries that have adopted blockchain technology and cryptocurrencies in various ways.
Other Countries Use Crypto to Bypass Sanctions
The U.S. government already partners with Chainlink to issue economic data onchain. Iran uses crypto assets such as Bitcoin and USDT to bypass banking sanctions and pay for imports. Iran also released a Strait of Hormuz insurance proposal that would have involved ships paying tolls in crypto for passage through the waterway.
Russia similarly uses crypto assets for international trade settlements and cross-border payments.
Israel’s Prior Blockchain Efforts
This would not be Israel’s first effort to embrace blockchain technology. In 2025, Israel advanced its central bank digital currency plans by unveiling the preliminary design of a Digital Shekel, though it has not revealed further plans for the project.
