Israel Incoming President Receives NFT Souvenir from his Father

Mervyn Kwan   Jul 07, 2021 16:45

To celebrate Israel’s 11th incoming President Isaac Herzog, the Knesset, Israel’s Parliament, presented a non-fungible token (NFT) archive of the original oath draft Wednesday, signed by Herzog’s father, the former President Chaim Herzog, as the gift for the newly elected President’s inauguration.

MicrosoftTeams-image (4).png

The physical document of the oath is originated from former President Chaim Herzog, the sixth president, signed on May 5, 1983. It reads: “…I pledge to maintain allegiance to the State of Israel and its laws and to faithfully fulfil my role as President.” according to the coverage from the local news agency.

“I am thrilled to give President-elect Herzog a special memory from his father that includes the wording of the oath he signed 38 years ago,” said Mickey Levy, Knesset Speaker.

Specialists of the Knesset produced a unique image file by using a secure and encoded mobile device. Local media said this is the first parliament worldwide to use this technology in terms of NFT to lend the declaration’s wording. In addition, the souvenir is preserved in digital form and printed copy which is not for sale, and will reportedly be kept in cold storage before returning at the end of his presidency.

MicrosoftTeams-image (3).png
Herzog’s NFT; Photo: Israel Knesset.

President Isaac Herzog said in his inauguration speech and pledged to be “the president of everyone”:

“My mission, the mission of my term, is to do everything in order to rebuild hope,” 

The 60-year-old new president has served as the head of the Labour Party and the opposition leader before his presidency.

Israel Develops CBDC Shekel

Apart from the application of the NFT, Israel is also reforming the monetary policy. A senior administrator from the Bank of Israel said the bank had completed testing on its digital currency, Shekel, last month. Last year, the Tel Aviv stock exchange announced and launched a Central blockchain-based securities lending platform to enhance digital securities transactions.

Image source: Israel Knesset

Israeli Pension Firm Generates Huge Profit from $100 Million Investment in Bitcoin

Read More