$122.30 0.38%
ETH · 27w

​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
Recent news
ETH +0.38% · · 2h

This is a strange time, the largest cryptocurrency has become a toxic asset. The emperor wears no clothes, pointing this out lowers your virtue in other peoples eyes. That does not change the fact that the emperor is naked, there is greater virtue in standing by the truth.

This is a strange time, the largest #cryptocurrency has become a toxic asset. The emperor wears no clothes, pointing this out lowers your virtue in other peoples eyes. That does not change the fact th...
ETH +0.38% · · 4h

Live Stream ETHDenver 2019 – ETHDenver

Live Stream ETHDenver 2019. Unable to make it to ETHDenver? Had to stop by your hotel for a moment and don’t want to miss a beat? Check out our live stream content!
ETH +0.38% · · 7h

5 Growth Hacks With Bounty0x

This is achieved by posting a series of tasks, like twitter and facebook bounties, that reward your existing and new community members for spreading the word about your company. As the name suggests…
ETH +0.38% · · 11h

First phase of the beacon chain testnet is live!

There has been a ton of activity in the ETH2.0 repo. Kudos to Danny Ryan on creating this comprehensive release page. While it makes all the incremental changes easier to follow, it also helps…
ETH +0.38% · · 22h

Shrimpy Announces Support for Bibox

Shrimpy is pleased to annouce official exchange support for all BiBox users! BiBox users can now use Shrimpy to configure their own cryptocurrency index or exchange-traded-funds (ETFs) to help aut...