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.”
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John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
