The world Bank (WB) has set the price for the world’s first public bonds on the blockchain to release in the amount of 100 million Australian dollars ($73,16 million).

Commonwealth Bank of Australia, which was chosen by WB as the sole organizer of a bond issue stated that it will be held on August 28. The yield on two-year debt securities will amount to 2,251% per annum.

The pilot issue of bonds, called bond-i, is considered as the first step in the world Bank study of the application of blockchain technology to automate transactions with debt securities. Blockchain platform for bond-i was developed by the innovation Lab Australian Bank.

WB annually sells bonds to $50-60 billion, directing the funds raised to support economic progress in developing countries.

Recall that earlier this year, Russian mobile operator MTS and Sberbank CIB held a full transaction cycle on the placement of commercial bonds on the blockchain. However, it was private placement debt, while world Bank bonds are traded publicly.