The Commonwealth Bank of Australia plans to issue bonds on the blockchain

nBankruptcy Review: Recently, the Commonwealth Bank of Australia said it plans to issue bonds on the blockchain system starting next year. According to ZDNet, Sophie Gilder, head of the blockchain at the Commonwealth Bank, said the bond will be transferred and paid for through the blockchain system in partnership with a major global issuer. At the same time, the bank is also watching the technology’s application in areas such as stocks, bonds and syndicated loans that it believes have a high degree of “friction” and has completed 25 proof-of-concepts and tests aimed at solving real business problems.n
nTranslation: Clovern
The Commonwealth Bank of Australia said it plans to issue bonds on the blockchain system starting next year.n
Although it did not reveal too much detail, ZDNet reported that head of the blockchain, Sophie Gilder, said the bond will be transferred and paid for through a blockchain system in partnership with a major global issuer but did not say it The name of the institution.n
Gilder commented at GMIC Sydney on Thursday that banks have been continuously exploring blockchain use cases for more than four years and have completed 25 proof-of-concepts and tests designed to address real business problems.n
She went on to state that the Commonwealth Bank is focusing on the application of the technology in areas such as stocks, bonds and syndicated loans that it believes have a high degree of “friction.”n
Gilder said:n
n”We think the platform we build can increase the efficiency of these businesses.”n
nEarlier this year, CoinDesk reported that the Commonwealth Bank announced that it is developing a blockchain-based system to sell government bonds. This concept is being tested by Queensland Treasury Corporation, Queensland’s central finance unit.n
Other agencies are also using blockchain technology for bond issuance.n
In October, the National Securities Depository of Russia said it used the blockchain to issue its first real-time bond. The instrument is a $ 10 million bond for the Russian telecommunications giant MegaFon, using smart contracts and the open source Hyperledger Fabric blockchain.n
And at the end of 2016, BNP Paribas also announced that it was exploring the technology for issuing tools called “mini-bonds.”n

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