Bitcoin, Crypto currency, Blockchain

Premiere: world Bank commissioned a CBA with the first Bond at the block chain the base

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The world Bank has commissioned Australia’s largest Bank, the Commonwealth Bank of Australia (CBA), with the creation of the world’s first block-chain bonds. This is the CBA announced in a press release today.

“Blockchain Offered New Debt Instrument” – in short: bond-i – the Name of the new bonds form, which was given by the world Bank in order. It is a so-called “Kangaroo Bond”, also known as “Matilda Bond”. Kangaroo Bonds are Australian Dollar-denominated bond issued in the Australian market by a foreign company. The goal: the inclusion of Australian investors ‘ funds.

The special bond-i: creation, publishing and management are based on the block chain technology. The Bond is the result of a cooperation between the CBA and well-known representatives of the investment sector, such as Northern Trust, the QBE and the Treasury Corporation of Victoria. After publication via the Blockchain the CBA in Sydney and the world Bank take over in Washington, the administration of the Bonds. The Blockchain is a private Blockchain based on the Ethereum network. CBA and world Bank had opted for the Ethereum block Chain, because they have the most and most active developer, according to a press release. In addition, you would provide the desired functionality. It was, however, the rapid developments in the block chain sector is aware of, which is why they wanted to always remain open to potential Alternatives. Software giant Microsoft took over – according to its own information, independent Verification of the platform in terms of their architecture, security and resilience.

Blockchain – is not a foreign word for the CBA

The CBA is in terms of Blockchain is not a blank slate. Only at 24. July has reported the Bank to the successful application of block chain technology. In cooperation with representatives of all involved sectors, a logistics project was implemented. 17 tons of found almonds make their way from Victoria (Australia) to Hamburg . The Bank has been dedicated to the block chain research in its “Innovation Labs” in Sidney, a separate Department. This bears the name “Blockchain Centre of Excellence” and has already been developed in the past year, the prototype of a block chain-based Bonds. This was done in cooperation with the government authority, Queensland Treasury Corporation and was, at the time, the first crypto-bond issued by a government.

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