Fri. Apr 26th, 2019

The World Bank Just Launched a Bond That Relies On Blockchain Technology From Start to Finish

The World Bank has launched a blockchain-only bond, through the Commonwealth Bank of Australia (CBA). The project is called ‘Bondi’ (Blockchain Operated New Debt Instrument), which could also refer to the world-renowned Bondi Beach in Sydney.

The so-called bond-i—for “blockchain operated new debt instrument” and perhaps also for Sydney’s famous Bondi Beach—is a two-year bond that was arranged by Commonwealth Bank of Australia and raised 110 million Australian dollars ($80 million.)

The World Bank said the bond was the first in the world to be “created, allocated, transferred and managed through its life cycle using distributed ledger technology.” However, that may not be quite accurate.

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