The World Bank issues $50-60bn in bonds on an annual basis to help fund projects and chose the Commonwealth Bank of Australia to help to organize a new Etherum blockchain bond denominated in Australian dollars.
The bond issued in Australia in the local currency (Kangaroo bond) has been named “bond-i” and once launched, it will be the first digital bond to be entirely created, managed, allocated and even transferred using blockchain technology.
The “bond-i” will be issued and distribuited on a blockchain platform and will run on a private Ethereum network which will be managed by the Commonwealth Bank of Australia.
Aruma Oteh, World Bank treasurer, said: “Since our first loan operation in 1947, thanks to the work of our colleagues and the Commonwealth Bank of Australia commitment, we are now able to launch our first Blockchain action”.
