World Bank Group and Australlia’s CommBank Issue Blockchain Bond using bond-i

2018-8-10 23:03

Australia’s Commercial Bank (CommBank) has partnered with the World Bank Group to offer a bond over the blockchain technology.

In a statement released on Friday, the bank which is among the top four largest commercial banks in Australia informed the public about the partnership. The bank has been entrusted by the World Bank Group to issue the blockchain based bond.

What Does The Partnership Entail?

Basically, the bank will use blockchain technology to create, manage and transfer the bond. The bank’s blockchain lab has already developed the process that will be used to issue the bond. The bank had hinted that such a product was in the pipeline in a statement back in December. Now that the World Bank Group has given CommBank this mandate, it’s all systems go.

The product dubbed ‘bond-I’ has attracted the attention of formidable investors such as Northern Trust and the Insurance and Treasury Corporation of Victoria.

According to the World Bank Group’s treasurer, Arunma Oteh, the groundwork for the technology has been in the pipeline for almost one year. The team at CommBank has carried out intensive research and analysis to ensure that the bond issuance is carried out smoothly. However, there are no much details about the terms and size of the debt issuance.

More About ‘Bond-I’

The issuance of this bond is in line with World Bank’s agenda of issuing $50 to $ 60 billion to countries in its fight against poverty around the world. The use of blockchain technology will help accelerate this agenda and bring transparency to the process. The bank will now be in a position to advice client on how Blockchain can impact their lives.

According to CommBank, the platform is built on the Ethereum network. Microsoft has also reviewed its structure in terms of security and its resilience. The bank joins major financial institutions that have embarked on looking at blockchain as a way to offer viable and convenient financial solutions to clients.

It will be great to see how this revolutionary step to embrace blockchain technology in bond issuance will impact on the cryptocurrency space.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.01 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0158127 (-100%)

bank world group australia commercial blockchain bond

bank world → Ðåçóëüòàòîâ: 126


Ôîòî:

World Bank Group Chief Says Blockchain Has ‘Huge Potential’ After Bond Success

The president of the World Bank has said Blockchain holds “huge potential” and that “embracing technology” is essential to it meeting its aims. Kim: World Bank ‘Not Keeping Up’ Speaking at the joint annual meetings event with the International Monetary Fund (IMF) this week, World Bank president Jim Yong Kim mentioned both cryptocurrency and distributed-ledger technology (DLT) within the context of Blockchain.

2018-10-12 05:00


Commonwealth Bank of Australia Partners With World Bank to Issue First-Ever Blockchain Bond

The Commonwealth Bank of Australia (CBA) has been mandated by the World Bank to issue the world’s first bond created, allocated and managed on the blockchain. Once issued, the bond will be managed by the World Bank in Washington and CBA in Sydney over a private Ethereum-based blockchain, with CBA stating that it remains open […]

2018-8-14 21:00


Ôîòî:

Spanish Central Bank Backs Cryptocurrencies in New Report

Central banks around the world have had hawkish, unfavorable views towards cryptocurrencies. However, the Spanish Central Bank, Banco de Espana (BDE), stands as a striking contrast. The regulator has released a report in which it states that the use of digital currencies, especially when there is a digital version of the state currency, will help in […] Spanish Central Bank Backs Cryptocurrencies in New Report was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-7 19:29


Ôîòî:

UBS: ‘Lack of Stability’ Preventing Bitcoin Going Mainstream

Bitcoin (BTC)–One of the world’s largest investment banks has commented upon the rise of cryptocurrency, and found fault with the scalability and price volatility associated with Bitcoin. The Union Bank of Switzerland, an investment bank and financial services company, has joined the list of Bitcoin detractors who point out the obvious flaw with the currency: […] The post UBS: ‘Lack of Stability’ Preventing Bitcoin Going Mainstream appeared first on Ethereum World News.

2018-8-6 17:15


Neluns – New generation financial ecosystem

The Neluns team recently announced it’s ICO, which will be held in three stages (rounds): Pre-Sale, Pre-ICO, ICO. The mission of Neluns is to create an innovative financial ecosystem combining within itself a bank that works with fiat as well as cryptocurrencies, a cryptocurrency exchange, and insurance company, thus, creating the most beneficial conditions for […] The post Neluns – New generation financial ecosystem appeared first on Ethereum World News.

2018-7-31 15:04


Commonwealth Bank of Australia (CBA) Pilots Blockchain Trade Shipment Across Borders

Commonwealth Bank of Australia Claims Success In Its Global Trade Blockchain Trial Banks around the world are starting to use the blockchain technology to make cross-border transfers. Now it was the time of the Commonwealth Bank of Australia (CBA) to use cross-border shipments with the blockchain technology to track the goods that were being carried […]

2018-7-31 09:36


Ôîòî:

An Australian Blockchain Experiment: Tracking Global Almond Shipments

Following a successful 2016 trial of blockchain technology in an interbank open account transaction, the Commonwealth Bank of Australia (CBA) has partnered with five international and Australian companies to ship 17 tonnes of almonds from Melbourne, Australia, to Hamburg, Germany, using a new distributed ledger platform built on the Ethereum blockchain.

2018-7-31 23:13