World Bank to collaborate with CommBank to create first Blockchain bond system
|- The system referred to as Bond-i and was incepted by the World Bank last August.
- Bond-I would be “a blockchain-operated debt instrument, on a distributed ledger.”
An announcement on Wednesday said that The World Bank in collaboration with the Commonwealth Bank of Australia (CommBank) are joining hands to develop a system that will allow the recording of secondary market bond trading using a blockchain technology developed platform. Both of the institutions conformed the involvement in the project during in the announcement. According to CoinDesk, it would be “a blockchain-operated debt instrument, on a distributed ledger” and will expose the “vast potential” of the blockchain tech.
The system referred to as Bond-i and was incepted by the World Bank last year in August where the CommBank was the main sole arranger. The trial saw the World Bank raise $81 million towards the project.
“Enabling secondary trading recorded on the blockchain is a tremendous step forward towards enabling capital markets to leverage distributed ledger technologies for faster, more efficient, and more secure transactions.”
CommBank Innovation Labs’ head of experimentation & commercialization, Sophie Gilder:
“Blockchain has the potential to streamline processes for raising capital and trading securities, improve operational efficiencies, and enhance regulatory oversight.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.