[ad_1]
Commonwealth Bank of Australia (CBA), the largest bank in the country, was mandated by the World Bank to organize a bond loan exclusively on a blockchain, according to a press release dated August 10th.
CBA reportedly organize the first global security to be "created, allocated, transferred and managed using blockchain technology". The Blockchain Offer New Debt Instrument (bond-i) will be issued and distributed on a blockchain platform under the operation of the World Bank in Washington and CBA in Sydney.
The two organizations use a private block of Ethereum, but the CBA "remains open" to alternatives because "other blockchains are developing rapidly." Microsoft conducted an independent review of the platform to evaluate its security and resilience. James Wall, Executive Director General of Institutional Banking & Markets International, said:
"We believe this transaction will be revolutionary as a demonstration of how blockchain technology can serve as a facilitating platform for different participants."
According to the CBA and World Bank, using blockchain technology, they will simplify capital growth, trade securities, accelerate operations and "improve regulatory oversight". The World Bank issues $ 50-60 billion of bonds per year for sustainable development in emerging economies.
5-day equity chart Commonwealth Bank of Australia Source: Reuters
In July, CBA successfully delivered a 17-tonne almond shipment to Europe using its new blockchain platform to track the load From Melbourne to Hamburg, Germany, the platform is supported by DLP (Distributed Ledger Technology), Internet of Things (IoT) and smart contracts.
In Thailand, the Thai Bond Market Association (TBMA) revealed that it would implement a blockchain solution on its registrar service platform. The new platform will enable TBMA to provide more quickly issuing of bond certificates which, in turn, will will increase the liquidity of the secondary market. The blockchain solution is expected to be introduced by the end of the year. [19659010] window.fbAsyncInit = function () {FB.init ({appId: & # 39; 1922752334671725 & # 39 ;, xfbml: true, version: & # 39; v2.9 & # 39;}); FB.AppEvents.logPageView ();}; (function (d, s, id) {var js, fjs = d.getElementsByTagName (s) [0]; if (d.getEl ementById (id)) {return;} js = d.createElement (s); js. id = id; js.src = "http://connect.facebook.net/en_US/sdk.js"; fjs.parentNode.insertBefore (js, fjs);} (document, & # 39; script & # 39 ;, & # 39; facebook-jssdk & # 39;)); [ad_2]Source link
