World bank has issued an Australia Dollar Bond operated entirely on blockchain Technology
Source: fortune.com
The World Bank has issued a two-year bond through the Commonwealth Bank of Australia, raising $110 million Australian dollars, but unlike most bonds issues, it will be operated entirely on blockchain technology. While other small companies have already issued bonds using cryptocurrency, the World Bank claims that this large scale bond will be the first to offer to a widely public and global spectrum of investors while having the entire bond process rely on blockchain technology, from start to finish, in its two year cycle. They have named the bond, “bond-i”, an acronym for “Blockchain Operated New Debt Instrument”, but also pays homage to the iconic Bondi Beach in Sydney, Australia.
