Current Affairs - Banking - Discussion

International Bank for Reconstruction and Development (IBRD, World Bank) in partnership with Commonwealth Bank of Australia (CBA) enabled recording of secondary market bond trading using blockchain technology. With this, Bond-i become the first bond whose issuance and trading is recorded on a blockchain platform. This also marked the next phase of the bond-i (blockchain operated new debt instrument) project. Bond-i, first issued in August 2018 by World Bank, is the world's first bond entirely based on blockchain, a type of Distributed Ledger Technology (DLT). CBA was the sole arranger of the bond. That experiment phase of 2018 helped the World Bank to raise $81 million at the time.