The Commonwealth Scientific and Industrial Research Organization’s (CSIRO) Data61 division and Commonwealth Bank of Australia (CBA) have announced that they have successfully trialed a new type of blockchain-powered smart money.
The first Commonwealth Bank of Australia’s blockchain-based bond has raised $110 million which exceeded all the expectations.
The proceeds generated after the bond issuance will go towards supporting World Bank’s sustainable development projects in emerging economies.
Called bond-i, which stands for Blockchain Offered New Debt Instrument, the bond will become the first one to be managed completely with blockchain technology.
The first blockchain-based transaction to ship cotton to China from the United States has taken place between banks.