Trump Administration in Talks With Crypto Startup on Israeli-Palestinian Peace Plans

The Trump administration has tapped Israeli crypto startup Orbs to develop blockchain solutions for the region's longstanding political conflicts.

The New York Times reported Treasury Secretary Steven Mnuchin said investments in the Palestinian territory would be like a "Hot I.P.O." The White House is aiming to put $50 billion behind it's so-called "Peace to Prosperity" plan.

Korin says the approach is emblematic of "a paradigm shift" in dealing with economic aid to the Palestinian people.

American economist Kevin Hassett even floated the idea of using blockchain technology to resolve land title disputes in the Palestinian territories, which perhaps overlook the fact such conflicts generally involve the Israeli military.

Previously, an anonymous source with knowledge of Israeli-Palestinian diplomatic relations told CoinDesk that blockchain solutions for tracking capital flows in the Palestinian territories have been discussed over the past year.

There were no Palestinians present at the meeting, the anonymous source said, although the Palestinian Monetary Authority is also reportedly exploring blockchain solutions.

Personal ties between the Israeli crypto industry and government bodies continue to deepen.

On the surface, it appears not much has changed since the meetings last fall, as the Palestinian Authority boycotted this week's Bahrain summit.

Although Korin declined to name any specific Palestinian partners or project plans, she said her team is working with Palestinians "On both the design of these projects and the implementation on the ground."

Palestinian tech-industry leaders did not respond to CoinDesk's requests for comment.