Over the last 2 weeks I have been out of the loop with COTI news and have been trying to do some catching up this afternoon. The one thing I firmly believe in is that when you invest into a crypto project you go all in and stay informed through research.
Those that follow me on Hive and invested in COTI are fortunate enough as I enjoy knowing what is happening and will always share what I know or have picked up. There are no blinkers or a one sided view because if I think that something has changed and will be detrimental to that investment I will sell and walk away. The plan is to maximize any opportunity and making mistakes can be very costly in dollar value and more importantly time that you can ever get back. This cycle has mainly been about my COTI investment and screwing this up is not an option.
Around 3 years ago I first heard about COTI and the Bank Of Israel connection with regards to CBDC's. COTI being an Israeli crypto blockchain project/company specializing in online payments makes them the ideal candidate to partner up with the Bank Of Israel. Lately we have heard various rumors of Government interest in COTI's encrypted privacy technology called Garbled circuits, but nothing concrete as yet. The Bank of Israel connection has ever gone away and today a new announcement was released.
COTI along with PayPal and FireblocksHQ have teamed up as part of the CBDC project with the Bank Of Israel. Notably COTI is the only blockchain involved and offers the ability for CBDC's to pay interest which is a first. I need to read up who and what FireblocksHQ do as I have no clue at this time.
Project Aurum which was a prototype for two tier digital banking using CBDC's was completed by Israel and Hong Kong in July 2022. The newly developed Garbled circuits is a game changer that can now be included which besides giving privacy it also adds to the security.
I am no fan of CBDC's but feel it is inevitable that the world is heading in that direction. The last 2 weeks I spent in Europe highlighted how the use of cash is disappearing with many businesses refusing to accept FIAT or having insufficient change to service transactions.
I suppose if you are going to be invested in a project then having it's technology being adopted is what you would like to see and why I see this as a bitter sweet moment for COTI. PayPal being involved has not gone unnoticed which will also open up new avenues for more collaborations in the future using COTI or it's technology incorporated into payments and see this as a possible spin off opportunity. There is so much being developed and created we just need to pay attention to see where this now leads.
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