The World Bank is betting big on blockchain-based bonds

12 Août, 2018, 09:30 | Auteur: Auguste Feret
  • Blockchain Australia’s Biggest Bank Launches World’s First Blockchain Bond With World Bank Prateek Dimri

The technology, already developed by CommBank's in-house blockchain lab, aims to have key parties in a bond issuance process such as investors and banks to be participating nodes in a distributed network.

Moreover, the officials will be calling the bond "bond-i" [acronym standing for Blockchain Offered New Debt Instrument] named after Australia's iconic Bondi beach in Sydney, cites the report.

The International Bank for Reconstruction and Development (IBRD), or the World Bank, has selected Commonwealth Bank of Australia (CBA) to issue a bond using distributed ledger technology (DLT). On 10th August, 2018 in a press release it is informed that by leveraging the Ethereum platform, a bond would be created for the first time with its exclusive responsibility given to CBA. The team at CommBank has carried out intensive research and analysis to ensure that the bond issuance is carried out smoothly.

"We are delighted to have partnered with the World Bank, and fully support its vision of making innovative use of technology such as blockchain to increase the efficiency of financing solutions to better achieve their goal to end extreme poverty", Wall said.

Other participants involved in the development of the blockchain bond will include the Victoria state's Treasury, asset manager giant Northern Trust and QBE, Australia's largest global insurer.

Spurs' fighting spirit delights Mauricio Pochettino
Tottenham held on for victory as they started the second-straight PL campaign with a victory at Newcastle . Tottenham's second goal was simple in its construction and should have been comfortably dealt with.

Sarri's 'Spanish' Chelsea get off to ideal start
If you see the result, you think it was a very easy match, but in the first half it was very hard against physical opponents. Chelsea manager Maurizio Sarri insists that he is not looking to replicate his Napoli style at Stamford Bridge.

Wave of strikes hits Syria's last rebel-held bastion
Rival factions control most of the rest, but Syrian troops have carved out a small southeastern part. He said the death toll in rebel-held areas of Aleppo was the highest since the beginning of 2018.

World Bank Treasurer Arunma Oteh said in a statement that the bank is continuing to "prudently seek opportunities for us to meet investor needs as well as the needs of our clients".

Australia's largest bank says it's latest blockchain foray will substantially streamline capital raising processes in the debt capital markets which are now made up of a complex web of interconnected agents and intermediaries. CBA said Microsoft conducted an independent review of the CBA blockchain platform's architecture, security and resilience.

It noted that it issues anywhere from $50 billion to $60 billion in bonds annually and prides itself on being an innovator in the capital markets. Now that the World Bank Group has given CommBank this mandate, it's all systems go.

The transaction is the brainchild of the World Bank's innovation lab, which has been working on the issue for almost a year, together with the Commonwealth Bank of Australia.

Today, we have grown to become one of the world's leading financial institutions.

Conseillé:



Populaire

Manchester United win fails to soothe José Mourinho's transfer irritation
Leicester got off to a poor start to the season but were able to climb the table throughout the season, finishing ninth. He said: "I always give my best for the fans, for the teammates and for the people that trust me".

WhatsApp : des failles dévoilées pour intercepter et modifier les messages
CheckPoint a tout particulièrement mis en relief les conséquences que pourrait avoir une telle faille en période d'élections. Nous bannissons également les utilisateurs qui tentent de modifier l'application afin de contourner ces limites".

Sony fête 500 millions de PlayStation vendues avec une édition limitée
En outre, nous pouvons voir le numéro du modèle gravé sur une petite plaque dorée, juste en dessous des ports USB. Notez que la manette sera vendue aussi seule, au prix de 64€.

Reports of hijacked plane crashed in Washington
The incident closed the Seattle airport to arrivals and departures for a short time, but flights have since returned to normal. Read out by family friend Mike Mathews, the statement said: "He was a faithful husband, loving son and a good friend.

Storm-hit PGA resumes with Tiger Woods chasing leader Woodland
Woods may not have been happy with his putting but had to be pleased with the performance of his back. You get away with more. "The golf course is playing soft, it's gettable, you have to make birdies".

'Great step forward' on energy plan
Opening the quarterly power bill is becoming more of a shock for many households as energy costs continue to rise. It's one of the Coalition's signature policies that has faced intense criticism.

Tiger Woods fan dresses the part at Bellerive's PGA Championship
That was six shots off the clubhouse lead held by compatriot Gary Woodland , whose halfway total of 130 was a tournament record. Woodland, even with the lowest 36-hole score in 60 years of stroke play at the PGA Championship, still had a long way to go.

NASA's flight to sun delayed by last-minute technical issues
The car-sized Parker Solar Probe is scheduled to blast off on a Delta IV Heavy rocket from Cape Canaveral. If the probe doesn't launch on Sunday, the window for a successful launch doesn't close until August 23.

Premier League chairman speaks exclusively to The Voice
But the deal would collapse when United management showed an unwillingness to part with the huge sum for the Leicester defender. City added to their squad with former Leicester title victor Riyad Mahrez this summer and look more fearsome than ever.

Health Department: Possible Hepatitis A Exposure At Fort Smith Red Lobster
Arkansas health officials have set up two vaccination clinics for the public after a Red Lobster employee tested positive. Illness can be prevented even after exposure by getting the vaccine or medicine called immune globulin.