The World Bank instructed Commonwealth Bank of Australia to issue the world’s first blockchain bonds, according to the bank’s PR service.
The bonds will be created, placed, transferred and managed only with the help of distributed ledger technology, the bank said. The same technology underlies cryptocurrency and records all transactions reliably.
For the new financial product, the designation bond-i was chosen.
The operations will start on a certain platform, but in the future, the World Bank does not exclude that the placement opportunities will be expanded.
According to the bank, the new product will make the attraction of capital easier, and control over financial operations is more reliable.