Ethereum
$174.20 -3.27%
ETH · 14w

​Commonwealth Bank to deliver world's first blockchain bond

The Commonwealth Bank of Australia (CBA) is claiming the world's first bond transaction delivered solely using blockchain, having been charged with the honour by the World Bank.

CBA said it is the sole arranger of the first bond globally to be created, allocated, transferred, and managed using blockchain technology.

The "$AUD Kangaroo bond", Blockchain Offered New Debt Instrument (bond-i), which uses a private Ethereum blockchain, has been developed alongside the Northern Trust, QBE, and Treasury Corporation of Victoria.

See also: Queensland Treasury uses CBA blockchain for 'cryptobond' prototype

It is expected that once launched, the bond will be issued and distributed on a blockchain platform operated by the World Bank and CBA in Washington and Sydney, respectively.

"We take a collaborative approach to innovating, and have a track record of partnering with other leading financial institutions, government bodies, and corporates to innovate through blockchain. We believe that this transaction will be groundbreaking as a demonstration of how blockchain technology can act as a facilitating platform for different participants," CBA executive general manager of Institutional Banking and Markets International James Wall said.

There's also a social good element to the initiative, with Wall touching on the World Bank's plan to use tech such as blockchain to end poverty.

As part of its mandate to reduce poverty and promote lasting development, the World Bank annually issues between $50 billion and $60 billion in bonds for sustainable development. The global financier is increasing its focus on helping countries transition to sustainable economies that are technology-led, CBA explained, while exploring the benefits of "disruptive" technologies such as blockchain.

"We are delighted to have partn...

Continue on zdnet.com
Recent news
ETH -3.27% · weekinethereum.com · 3h

Week in Ethereum

News and LinksLayer 1 • [Eth 2.0] What’s New in Eth 2.0 • [Eth 2.0] implementers call. Agenda • [Eth 2.0] Notes from Prague workshop sessions • [Eth 2.0] Prysmatic Labs dev update, first RanDAO...
ETH -3.27% · medium.com · 4h

New User Interface – Radar Relay

We’ve checked off our list of backend improvements and are now tackling user interface with a rebuild of our front-end. These updates are a response to the wealth of feedback we’ve received from…
ETH -3.27% · medium.com · 5h

Augmentors Game's DTB is moving to ERC20!

Hey guys! In this week’s update I take you through the tutorial changes we implemented in V1.0.7 based on the guidance from Apple, as well as give you an update on the blockchain integration. I hope…
ETH -3.27% · blog.po.et · 6h

Mainnet Means Maturity – Po.et Blog

If you’ve been following Po.et closely, you know that we’re right around the corner from moving the Po.et protocol over from testnet to mainnet. Po.et is special compared with other blockchain…
ETH -3.27% · forbes.com · 8h

A New 'Fortnite' Awaits In Blockchain Gaming

Fortnite's massive success was unprecedented, but since then it has been copied. This article looks like the in-game purchase economy and how even in games like Fortnite, players and developers still ...