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The Commonwealth Bank of Australia (CBA) and the World Bank have launched the first blockchain bond in the global financial sector this month. Institutional investors already show a growing interest
On 10 August, CCN reported that the World Bank has selected CBA, the largest bank in Australia, to issue the world's first blockchain bond based on the Ethereum blockchain network.
Bond-I, the blockchain-based debt tool, has implemented Microsoft's blockchain cloud computing platform, Azure compatible with the Ethereum network to settle orders, after Microsoft has confirmed that Ethereum is able to facilitate sure way investments in the bond, with sufficient downsizing.
time, CBA Director General James Wall said that Bond-I is a big step forward in the blockchain sector as it represented the potential of decentralized systems like Ethereum in the traditional financial market.
"We believe this transaction will be revolutionary as a demonstration of how blockchain technology can serve as a facilitating platform for different participants," said Wall.
Increase demand from institutional investors
[19659003] This week, Business Chief, a local publication in Australia, reported that Bond-I received the support of seven investors, seeing a rapid increase in demand from financial institutions, governments and investment companies.
In an interview, Wall said:
"Since I announced the mandate, the interest we have received for the bond-i has been overwhelming.It is clear that the market is ready and open to the spread of emerging technologies and see the potential evolution of capital markets.It was a pleasure to work on such a revolutionary transaction with a far-sighted organization like the World Bank. "
The success of Bond-I was so overwhelming that the Washington-based World Bank raised $ 80 million, mostly due to the short-term growth of the bond based on Ethereum.
Arunma Oteh, treasurer at the World Bank, said that the institution is satisfied with the demand for high quality investors and, above all, Oteh stressed that Ethereum-l's basic bond was well received by investors.
Explained:
"I am pleased that this pioneering transaction based on distributed register technology, bond-i, has been extremely well received by investors, we are particularly impressed by the suspicion of interest from official institutions, fund managers , government institutions and banks, we have undoubtedly succeeded in moving from idea to reality because these high-quality investors understood the value of exploiting technology for innovation in capital markets. "
of the Bond-I
In the last two years, the development of blockchain companies, consortia and technology conglomerates have spent billions of dollars annually to distribute and market blockchain-based systems.
The Bond-I is the first successful case of marketing a public blockchain network like Ethereum in the traditional finance sector, and the continued success of Bond-I with the growing interest of investors will likely lead to the growing adoption of technology blockchain in the global financial market.
The World Bank has emphasized that it will continue to explore the capabilities and applicability of blockchain technology in the future, encouraged by the Bond-I embrace.
Images from Shutterstock
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