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World Bank Will Issue First Blockchain Driven Bond With The Bank Of Australia

Blockchain is breaking its shell to go further up in the tech scale. Besides powering cryptocurrencies through decentralized ledger technology to being used in projects like the one that IBM and Maersk announced yesterday, this technology is directed to do great things for people. But now, even one of its greatest enemy, The World Bank is planning to aid itself with the use of it to control the emission of a new kind of digital bond called bond-i, according to their web page.
For this task, the World bank committed the Commonwealth Bank of Australis to manage all that is relevant to the emission of the bond-i. And it is not just a catchy name, it actually means something: bond-i stands for Blockchain Offered New Debt Instrument, a new kind of digital blockchain produced, distributed and managed digital bond. Spokespersons from the World bank have stated that with this bond, they are examining blockchain technology and the possibilities that it gives bank institutions to manage this kind of operations in a safe and effortless way.
If this kind of emission really takes off, it could mean the generalization of blockchain to manage this kind of instruments, and this could be a great application to show the world another face of blockchain besides cryptocurrencies. The World Bank issues enormous quantities of money in the form of bonds to support their development aiding activities.
Dennis Robitaille, the CIO of the world bank talked about the importance of this kind of new initiatives. He declared:
THIS PIONEERING BOND IS A MILESTONE IN OUR EFFORTS TO LEARN HOW WE CAN ADVISE OUR CLIENT COUNTRIES ON THE OPPORTUNITIES AND RISK THAT DISRUPTIVE TECHNOLOGIES OFFER AS WE STRIVE TO ACHIEVE THE SUSTAINABLE DEVELOPMENT GOALS.
It was reported that a private, closed blockchain would be used in partnership with Microsoft to achieve the levels of security that users and customers will need in regards to this bonds. It seems that blockchain, adding value to the business proposal of banks is poised to help the latter to achieve good things in the near future.

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