World Bank’s Blockchain-Based Bonds — A Step Toward Adoption?

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In what is being called a world first, the World Bank has ordered the creation of a blockchain-based bond through Australia’s Commonwealth Bank (CBA).

It marks a very clear move by some of the world’s most influential financial institutions to start leveraging blockchain technology to improve their offerings.

CBA has already developed the blockchain-based system, using a private Ethereum blockchain. The Blockchain Offered New Debt Instrument (bond-i) will be issued by the World Bank in Washington.

The project has been spearheaded by the World Bank, which is looking to use blockchain technology to improve the way it issues bonds around the world.

The institution issues around $60 billion in bonds every year for sustainable development — and the bank says the move aims to explore the use of blockchain technology across different operations.

The bond-i was solely designed and developed by the CBA Innovation Lab’s Blockchain Centre for Excellence. The department had previously tested a