The world Bank commissioned the Australian Commonwealth Bank (CBA) to release the bond on the blockchain.
As representatives of CBA, the financial conglomerate will be the first banking institution in the world, which will release the bond, “created, hosted, issued, and further kontroliruyumuyu exclusively through blockchain technology”. A new financial product called bond-i (the Blockchain Offered New Debt Instrument; “a new instrument of debt on the basis of the blockchain”) will be issued in the future to spread across a distributed network in the framework of the world Bank in Washington and CBA in Sydney.
bond-i posted on a private sidechained Ethereum, however, CBA does not exclude the possibility of cooperation with other projects, noting that “rapidly developing other blackany”. Audit of security systems and counter-attacks carried out by Microsoft. James wall (James Wall), General Manager of international institutional banking and markets, CBA, said:
“We are convinced that this transaction will be a real breakthrough, demonstrating how the blockchain technology can be a catalyst for interaction between different members of the network”.
Representatives of the Commonwealth Bank and the world Bank are confident that the use of blockchain technology will facilitate the mobilization of capital and the exchange securities, will accelerate workflows and “strengthen supervision over movement of funds”. According to Cointelegraph, the world Bank annually issues bonds in the amount of $50-60 million to support sustainable infrastructures in emerging economic sector.
Recall that in July, the CBA has successfully tested a blockchain full cycle of supply for international shipping 17 tons of Australian almonds.
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