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Sunday, 18 February 2018

Crypto-Divorce In Israel

While many are demeaning and deriding Crypto-currency, some are adopting them and even using it in their daily lives. This has become evident in  divorce cases involving Bitcoin as an example in Israel.




Summary:

  • In Israel, a rabbinical court is faced with a new challenge as it is about to rule on crypto-currency on matters specifically concerning Bitcoin.
  • An Israeli couple who got married 3 months ago,and in the Jewish wedding ceremony, the man is required to pay a certain amount in case of a divorce.
  • It is required that the man writes a symbolic amount that he can pay so that when they wish to divorce, he will pay it in parallel with any alimony imposed on him by the Jewish civil courts.
  • The woman said she felt it cool,since in the old days, camels and silver coins were used, but today Bitcoins are being used.
  • Now, the woman is asking for her divorce compensation worth 2 million shekels, the man has agreed to pay but to the value of the Bitcoins at the exchange rate of something much closer to a million shekels.
  • Now it's up to the rabbinical courts to decide how best to decide the case
  • This case is one among a number of cases involving Bitcoin , a law firm in Britain claims to have similar cases in it's hands with the tug of war valued at about $840,000.

What do you think about this? Does the adoption of Bitcoin pose problems to the society at large? Or do the benefits far outweigh the problems?
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