World Bank uses blockchain technology to issue more than $33 million in bonds

According to Coindesk's August 19 report, the World Bank once again raised $50 million (approximately $33.8 million) through the sale of a "block-chain debt instrument" (bond-i), the Commonwealth Bank of Australia, Royal Bank of Canada Capital Markets and Canada's TD The securities are jointly responsible for this sale.


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The Commonwealth Bank of Australia said that both new and old investors have participated in the capital raising of this blockchain bond.

In addition to the bonds sold last time, the World Bank issued a total of 160 million Australian dollars (about 108 million US dollars) of private bonds running in the blockchain Ethereum. According to the Commonwealth Bank of Australia, this is “the first bond that uses distributed ledger technology to create, distribute, transfer and manage the entire lifecycle”.

Andrea Dore, head of financing at the World Bank, said:

We are happy to see that investors and partners have always given us strong support. The World Bank's innovation and experience in the capital markets is key to helping member countries raise their digital levels, increase economic productivity and accelerate the achievement of sustainable development goals.

The blockchain platform was created and developed by the Bank of Australia's Blockchain Center of Excellence.

Sophie Gilder, head of blockchain and artificial intelligence at the Commonwealth Bank of Australia, added at the press conference last week:

From the first use of blockchain technology to issue bonds to bond management, secondary trading and distribution on the same platform, we have found that the efficiency, transparency and risk management capabilities of blockchain technology are higher than the existing market infrastructure. higher.

Next, we plan to add more features to improve billing, hosting efficiency and compliance.

A year ago, the World Bank announced the first issue of A$110 million (approximately $81 million at the time). In May of this year, the World Bank and the Commonwealth Bank of Australia began using blockchain technology to record bond transactions in the secondary market.