Commonwealth Bank Develops Blockchain for Government Bonds
A major bank in Australia is developing a blockchain-based system for the sale of government bonds. The Australian Financial Review reported that Commonwealth Bank of Australia has designed a blockchain network concept that could be utilized to issue and exchange government bonds. The Queensland Treasury Corporation, which acts as the Australian state’s central financing authority and provider of treasury services, is said to have tested the concept. Other states in Australia, according to the newspaper, have also eyed the technology. Deputy CEO for the Queensland Treasury Corporation....
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The Commonwealth Bank of Australia (CBA), the country’s biggest bank, is providing customers with the ability to buy, sell, and hold crypto assets directly through its app. The bank has partnered with crypto exchange Gemini and blockchain analytics firm Chainalysis to provide crypto services.
Commonwealth Bank Begins Offering Crypto Services
Commonwealth Bank (CBA), also known as Commbank, announced Wednesday that “it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets,” which will be directly through....
The Commonwealth Bank of Australia will host a two-day blockchain conference in Sydney next month in an attempt to explore the technology's potential. According to a Computerworld report, the bank - which recently partnered with distributed ledger startup R3CEV and has experimented with Ripple's technology - has teamed up with Coala, a research organisation which had already organised an international series of blockchain events. David Whiteing, CIO at Commonwealth Bank, said: "Blockchain has the potential to transform banking in the way that the Internet transformed how we buy music and....
Israel's Ministry of Finance and the Tel Aviv Stock Exchange expect to finish the pilot project by Q1 2023. The Israeli Ministry of Finance, together with the Tel Aviv Stock Exchange (TASE), digital assets custody provider Fireblock and the United States software solutions developer VMware, will conduct the testing of a blockchain-backed platform for digital bonds trading. These bonds will be issued by the Ministry of Finance. The news broke out in the local media on Oct. 19. Coming under the name Eden, the new project is intended to reduce costs and optimize the procedure of national....
The Commonwealth Secretariat, the executive arm of the 53-member Commonwealth of Nations, has launched a blockchain-powered secure communication tool geared for governments and law enforcement. Developed in partnership with UK-based startup Digital Identity Security Company (DISC), the project is designed to offer a secure means of communication for government and law enforcement agencies within the Commonwealth. The move comes more than a year after the Secretariat first waded into investigating cryptocurrencies by way of commissioning a report on the topic. That report, released in....
The Bank of Thailand has issued the world’s first blockchain-based government savings bond platform. The Bank of Thailand launched the world’s first blockchain-based government savings bond issuance platform using IBM’s blockchain technology.Within two weeks of the launch, the central bank sold more than $1.6 billion worth of savings bonds, as per IBM’s official announcement on Oct. 5, 2020.The use of blockchain technology is said to have reduced the bond issuance time from 15 days to just two days. The increased efficiency of the process has also reduced operational cost and redundant....