World Bank and Australia launched bonus based on blockchain
This new asset will be called Bond-i, which means "Blockchain Offered New Debt Instrument"
On Friday, the World Bank and the Commonwealth Bank of Australia (CommBank) announced the launch of a first bonus based on blockchain technology.
This asset was developed by the team of the Blockchain Research Center of CommBank and will be called Bond-i, name that comes from the abbreviation of “Blockchain Offered New Debt Instrument“.
The launch of this bond represents the first asset issued, backed, stored and managed entirely by the chain of blocks, a feature that will provide much more security and privacy than the common.
The World Bank, according to statistics, issues up to 50 and 60 million dollars in bonds each year, in line with its goal of reducing poverty rates and increasing the percentage of sustainability in relation to global markets.
Denis Robitaille, CIO (Information Officer) of the World Bank, said that this project represents a very important achievement for the board of this institution.
“This pioneering project is a milestone in our efforts to learn how we can advise our client countries on the opportunities and risk offered by emerging technologies as we strive to achieve the Sustainable Development Goals,” said Robitaille.
The launch comes only a few months after the CommBank was investigated by an alleged association with a money laundering case, particularly after finding that one of its employees had created false loan accounts to buy millionaire properties and illicit substances.
K. Tovar
Source: CNBC
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