World Bank's first bond using Blockchain Technology
The World Bank issued a mandate to the largest bank in Australia CBA (Commonwealth Bank of Australia) founded in 1911 by the Australian government to organize a bond issue exclusively in Blockchain Technology on 10 August in the press release.
Since 2009, the Commonwealth Bank of Australia has served as senior manager in IBRD Bond issuances in New Zealand and Australia's capital markets. In Sydney you will find your Blockchain Innovation Labs Center of Excellence which has a major role in the application of Blockchain Technology in the capital markets.
The World Bank and CBA are using a private Ethereum block chain for this project, this new debt instrument offered through Blockchain Technology known as Bond-I will be issued and distributed on a Blockchain platform under the World Bank operation in Washington and the CBA in Sydney, the World Bank will use the platform in Microsoft's Azure Cloud to run the bond in Washington.
To be attentive because today the debt capital markets comprise numerous intermediaries and interconnected agents and with this advance that is taking the Blockchain Technology has the potential to streamline the processes to obtain capital and negotiate values, improving operational and supervisory efficiencies.
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