Skip to main content

Bond. Blockchain Bond.

About two weeks ago, the World Bank announced that it has ordered the creation of a blockchain-based bond. This is more exciting than the first sentence would you have you believe. The World Bank issues tens of billions (yes, billions) of dollars in bonds each year. The Commonwealth Bank of Australia (CBA) will be facilitating the creation of the Blockchain Offered New Debt Instrument (bond-i) which will be issued and distributed on a private Ethereum blockchain. Both the World Bank and CBA will operate and manage the blockchain which will be used in the global creation, allocation, transfer and management of bond-i.

+1 for blockchain adoption.

#blockchain #finance

Comments

Popular posts from this blog

The Rundown on CBDCs

Everyday there is a news report about a country that is "exploring" or "studying" the possibility of developing a central bank digital currency (CBDC). In the past few days, I've read articles about Rwanda, Israel and France looking to pilot programs with CBDCs. And yesterday, the Bank of International Settlements announced its backing of the development of CBDCs. With approximately 80% of central banks around the world taking a closer look at CBDCs, now is as good a time as any to learn more about them. What Are They? A central bank digital currency is exactly what it sounds like--a digital currency issued by a central bank. In the same way our central bank, the Federal Reserve, issues the U.S. dollar, it would similarly issue some official U.S. digital currency ('digital dollar'). This is pretty much where the simplicity of it all ends. Things get really hairy (really fast) when central banks have to figure out how CBDCs fit into a traditional financ

A Curious Crypto Caper Chronicle

The Hack Earlier this month, a hacker executed a massive crypto heist on PolyNetwork--a decentralized finance (DeFi) platform. The hacker was able to steal more than $600 million in crypto from thousands of users on three separate PolyNetwork blockchains (Binance Smart Chain, Ethereum & Polygon) and involving more than a dozen cyptocurrencies. In other words, this hack was * major *. The PolyNetwork protocol operates on multiple blockchains and allows users to send/receive tokens across these different blockchains using various smart contracts (also known as "bridges"). The hacker exploited a vulnerability in one of these smart contracts which maintains significant amounts of crypto to maintain liquidity and this allowed him to overwrite instructions and redirect all crypto funds to himself. From there, the hacker attempted to move the stolen crypto into various liquidity pools.   The Blacklist The hacker was successful in moving some of the crypto. But shortly after the

Finding Nemo: A Journey on the Blockchain

Imagine if Nemo was a salmon born and raised in a fish farm in Norway. And imagine if his life, including how many roommates he had, his environment and every meal he ate, was recorded. His death (mainly manner and date) were also recorded. His post-mortem journey to the U.S. was recorded, including where he may have stopped along the way, before making his way to the seafood section of your local grocery store. Now imagine if you could scan a QR code to get a snapshot of Nemo's life, death and journey to the U.S. before deciding to purchase him and do so knowing that his provenance is accurate and reliable. If you're lucky enough to patronize certain Whole Foods, you may be able to do this soon. A major producer of salmon in Norway is working to bring more transparency to its practices using blockchain as the infrastructure. As increasing numbers of consumers become mindful of environmental sustainability and ethical eating, these types of supply chain efforts will become mo