Tuesday
August 14
2018

World Bank, Commonwealth Bank team up on blockchain sustainable development project

By Kevin O’Brien

The World Bank recently said they have chosen the Commonwealth Bank of Australia (CBA) to become the sole arranger of a new blockchain bond that will be issued on Ethereum. Both entities are set to launch the bond after consulting with investors.

There isn’t much detail regarding the technical details of the bond itself, but the infrastructure is currently set to run on Microsoft Azure’s cloud platform, according to the MIT Technology Review.

Microsoft also carried out an independent review of CBA’s blockchain platform to gauge functionality and security.

The World Bank said via press release that indicative investor interest in the bond has been strong, while pointing out how they have frequently issued in the Australian dollar market.

Photo courtesy of Pixabay.

Source: Bitcoinist (link opens in a new window)

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Inclusive Fintech
Tags
blockchain, development impact bonds, global development, Sustainable Development, World Bank