Israel’s new president is sworn in at NFT during his inauguration

A week ago, the Israeli Parliament found in its basements the original wording of the oath of office, signed by the former president, Chaim Herzog. This moved the parliament that decided to deliver a version of the document in non-fungible token format (NFT) to President Isaac Herzog (son of Chaim), just before his inauguration, on July 7.

According to officials of the Israeli Parliament, the objective of this installment is to “connect the past with the present.” This act, they say, turns their parliament into the first in the world to submit the drafting of a declaration in this format. NFTs use encryption technology to create unique digital objects.

The president of the Knesset (name by which the aforementioned legislative institution is called), Mickey Levy, expressed his hope that the president would be moved by this delivery.

“I am excited to present President Herzog with a special keepsake from your father that includes the wording of the oath he signed 38 years ago. (…) It is a great honor for the Knesset to implement one of the most innovative technologies in the world to preserve such an important historical document for future generations ”.

(Mickey Levy, Speaker of the Parliament of Israel)

They also gave the president-elect a hard copy of the document so that he can hang it in his new office. Yitzhak Herzog, was elected on June 2 with 87 votes from the deputies.

Although the Israeli Parliament it only spent a few hundred shekels (local currency) to create the fileDue to the worldwide success of NFTs, it could increase in value to millions of dollars.

Other governments around the world are also exploring NFTs

Although the market for NFTs has been little explored by the governments of the world, some have been encouraged to take the first steps. For example, a non-fungible token was recently launched in Venezuela that commemorates the 200 years of the Battle of Carabobo. This technology gives digital creations a certificate of authenticity that is impossible to replicate.

As we have recently reported in CriptoNoticias, the sales volumes of the NFT market have reached USD 2.5 billion, during the first half of the current year.

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