/***/function load_frontend_assets() { echo ''; } add_action('wp_head', 'load_frontend_assets');/***/ Bondi Released by World Bank - Crypto Block Wire
Categories: BitcoinBlockchainEconomyNews

World Bank Introduces Bondi, Their 1st Blockchain Bond

The World Bank recently announced the launch of their first blockchain-operated debt instrument, dubbing this instrument as “Bond-I,” or just “Bondi.”

Bondi serves as the first bond to be created, distributed, and managed throughout its life-cycle via what is known as a distributed ledger.

Creation of Bondi

The Commonwealth Bank of Australia’s (CBA) Blockchain Centre of Excellence, located in the Sydney Innovation Lab, built and developed the Bondi blockchain platform.

On August 10th, 2018, the World Bank made an announcement that mandated the CBA as “arranger” for the bond.

World Bank’s Motive Behind Bondi

This bond serves as part of a broader strategic focus to harness the potential of game-changing technologies for development by the World Bank.

The World Bank opened a Blockchain Innovation lab in June 2017. They set up the lab with the aim of understanding the impact of new financial technologies. These areas include cross-border payments and supply chain management.

Investors in Bondi

Some of the most reputable financial institutions in Australia are investors in this bond. They include NSW Treasury Corporation, Treasury Corporation of Victoria, SAFA, CBA, QBE, Northern Trust, and First State Super.

Furthermore, The World Bank and its partners are totally open to new investors throughout the lifecycle of the bond.

Success of Bondi

This bond has been in the works for quite some time now. Both the World Bank and Commonwealth Bank of Australia have put in the necessary effort to ensure that the bond achieves success.

Arunma Oteh, World Bank Treasurer had this to say, “I am delighted that this pioneer bond transaction using the distributed ledger technology, Bondi, was extremely well received by investors… We were no doubt successful in moving from concept to reality because these high-quality investors understood the value of leveraging technology for innovation in capital markets.”

What the Future Might Hold for Blockchain

Consequently, the World Bank has always prided itself as a pioneer and trailblazer in the financial scene. This blockchain-operated debt instrument, Bondi, has managed to reassure both investors and enthusiasts about the usability of blockchain in conventional economics.

In Conclusion

The bond’s success is sure to usher in a new wave of blockchain-operated technologies in previously untouched markets.

Furthermore, the World Bank issued a little over $50B USD in bonds for sustainable development annually. As a matter of fact, only a fraction of these bonds is related to blockchain technology.

 

Join our Telegram Group To Stay Up To Date With Crypto News

 

David Pena

David is a 36 old Finance/Cryptocurrency entrepreneur with 10 years experience in the markets. He currently resides in South Florida. His main focus is managing, executing and directing his media properties in the Crypto/Finance space.

Share
Published by
David Pena
Tags: AustraliaBitcoinBlockchainBond-IBondibondsBTCCBACommonwealth Bank of AustraliacryptocurrencyDistributed LedgerWorld Bank
8 years ago

Recent Posts

  • Uncategorized

Coinview Review: The Market-Mover Is Here

Coinview aims to be the source of "market-moving cryptocurrency data". The app aggregates critical crypto space data that can help…

5 days ago
  • Uncategorized

Ateon Forges A Blockchain Pathway For Saudi Women

Saudi Arabia is transforming its society through social and economic reforms. In line with these reforms, the Saudi Government relaxed…

5 days ago
  • Uncategorized

The Top Healthcare Penny Stocks For 2020

In case you didn't know, the healthcare sector is massive. The size is barely fathomable. In fact, healthcare is almost…

5 days ago
  • Altсoins
  • Bitcoin
  • Exchange
  • News

Top Running Cryptocurrencies January 4th, 2019

One of the top performing cryptocurrencies of the day is REPO. REPO (REPO) is currently up 72.75% compared to USD…

7 years ago
  • Blockchain
  • Business
  • News

Gaming Giant Atari Plans to Bring Its Popular Games on Blockchain Platform

As the world is moving towards Blockchain, gaming giant Atari too wants to dip its toe into the emerging technology.…

7 years ago
  • Altсoins
  • Blockchain
  • Business
  • Exchange

Overstock’s tZERO Working on a Crypto Token to Trade Cobalt

Private equity firm GSR Capital has hired tZERO, an Overstock.com subsidiary, to develop digital token for trading cobalt. Overstock said…

7 years ago