INSUBCONTINENT EXCLUSIVE:
The World Bank has launched the first bond on a blockchain with the Commonwealth Bank of Australia.
The A$110 million ($87 million) bond-i
(blockchain operated new debt instrument) — so named, I&m assuming, because of Australia famed Bondi Beach (bankers have the funnies!) —
is the first bond to be created, allocated, transferred and managed using distributed ledger technology.
The investment is one small step
for Australian finance and one giant leap for blockchains in the world (or not).
Investors in the blockchain bond include CBA, First State
Super, NSW Treasury Corporation, Northern Trust, QBE, SAFA and Treasury Corporation of Victoria
It a smorgasbord of Australian state financial institutions and makes a ton of sense, because the Australian fintech community is one that
strong, and blockchain is something that these institutions are definitely interested in exploring.
According to a statement from the World
Bank, this will be one of many experiments that the global financial organization will make into blockchain research
Last June, the World Bank launched a Blockchain Innovation Lab to play around with the technology.
We are particularly impressed with the
breath [sic] of interest from official institutions, fund managers, government institutions and banks
We were no doubt successful in moving from concept to reality because these high-quality investors understood the value of leveraging
technology for innovation in capital markets,& said World Bank Treasurer Arunma Oteh.
