While the Finance Ministry and Bank of Israel are considering issuing a digital currency, the BitCoen project focuses on this important for the whole cryptocurrency ecosystem region. Main objectives of this initiative of the Israeli government is to reduce black market activity, which makes up 22% of the country’s GDP, and to reduce paper cash, which is largely used to facilitate untaxed transactions. Thus Israel joins Russia in the creation of a national token, but unlike in Russia, in Israel cryptocurrency use is generally legal. A tentative legal framework of a new state-sponsored currency has been being reviewed by the government since the beginning of the year.
“After all these discussions requirements to the blockchain technology the new Israel state-sponsored currency will be based on are very clear: high network speed for immediate transactions, protection from spam and false transactions, ready-to-use digital wallet,” says Vyacheslav Semenchuk, founder and CEO of BitCoen:
We can say that BitCoen blockchain is perfectly meeting these requirements. LCPoA blockchain algorithm reliably protects the network, while it does not require large expenditures of computing resources.The BitCoen technology provides a high network speed (up to 25,000 transactions per second), which is 3500 times faster than regular Bitcoin blockchain. BitCoen digital wallet was already ready in December and has been being tested by our token holders for several months already.
“State-sponsored digital currencies like new “digital shekel” may compete with all of the cryptocurrencies, even bitcoin. We are looking forward to see how digital currencies will affect the lives of consumers in Israel and other countries,” says Vyacheslav Semenchuk, founder and CEO of BitCoen.
At the same time since the beginning of the year everyone can purchase BitCoen tokens at the special automated teller machine in Tel Aviv, Israel. BitCoen - is the first altcoin, which can be purchased now with the use of ATM at the “Bitcoin Change" - a shop co-founded by Abe Ziv in the Bauhaus Center in Tel Aviv. “This cooperation is extremely important for us, because of the geo-strategic location and making buying BitCoen tokens accessible to all,” says Vyacheslav Semenchuk. “By the way, the ATM installed in the shop is fully compliant with Israeli AML regulations.”
Exploiting new opportunities for the BitCoen project, it was decided to strengthen the team with a young and talented advisor. Since the beginning of January the founder of Cryptocurrency Financial, a cryptocurrency consultant, and a successful trader Edward Zillan joined the BitCoen team as a project advisor.
Eddy Zillan was 16 when he invested his bar mitzvah money in cryptocurrency. Two years later he has made close to a million from trading in various cryptocurrency. As a student he has created his own cryptocurrency consultancy business capitalising on his investment success. Eddy sees high potential in altcoins, especially BitCoen, because “those are the ones nowadays that have the largest exponential growth”.
“We are glad to see Eddy as our advisor. His experience and energy will help the BitCoen project to reach its strategic goals,” says Vyacheslav Semenchuk. “We have prepared some more team updates and interesting news. Stay tuned for more important announcements about BitCoen.”
British company BitCoen declared about its strategic goal – to help interaction between representatives of the Jewish communities around the world. The BitCoen ecosystem is a system of services, qualitatively improving the life of the Jewish community. The Token sale of the BitCoen blockchain project is being held at http://bitcoen.io and will last until February 15, 2018. Currently the BitCoen project has raised a sum of $2 millions at the price of $1 per one BEN.
Disclaimer: this is a sponsored story; it does not provide any recommendations on investments.