The world’s first public blockchain bond “bond-i” launched by World Bank
The world’s first blockchain bond “bond-i” has recently launched by World Bank (WB), which is to be created, allocated, transferred and managed through its life cycle using distributed ledger technology. The “bond-I” stands for Blockchain Operated New Debt Instrument and is also has reference to Sydney’s most famous beach ‘Bondi Beach’. The Commonwealth Bank of Australia is the sole arranger of the issuance for the bond. It was the first time that the World Bank bond raised capital from public investors through a legally valid bond issuance that uses blockchain from start to finish. This 2-year maturity bond has successfully raised 110 million Australian dollars (USD 80.48 million). The World Bank, whose bonds hold an AAA rating, regularly uses its borrowing power to help develop new bond markets as well as pioneering new means for selling and trading the securities. The bond-i blockchain platform was built and developed by the CBA Blockchain Centre of Excellence, housed in the Sydney Innovation Lab.