A British Company has revealed it is aiming to become a significant player in the Israeli cryptocurrency market. As the Bank of Israel and Israel\'s Finance Ministry begin to investigate whether or not to issue their own digital currency, the British BitCoen project is focusing on filling this role in the cryptocurrency ecosystem.

The Israeli government have revealed that they want to target the country\'s black market as well as reduce the use of paper cash, which is increasingly used in untaxed transactions. The use of cryptocurrencies is permitted in Israel, hence the development of a national token. The framework for the digital currency has been analysed since January 2018.

Founder of the BitCoen, Vyacheslav Semenchuk explained that it was clear what the public wanted from a new digital coin. He confirmed that quick transactions, security protection and an easy to use digital wallet would all be characteristics of the new state-sponsored digital currency and further commented that BitCoen would be able to compete against other major cryptocurrencies, including Bitcoin. To further develop the BitCoen project, the team revealed that they have employed the creator of Cryptocurrency Financial, a consulting firm dedicated to digital currency, Edward Zillan, as a project advisor.

As the first blockchain ecosystem and Kosher crypto-token, BitCoen has confirmed that the ultimate goal is to aid interaction and transactions between Jewish communities around the world.