The platform will benefit both the government and investors
First blockchain-based platform for government savings bonds unveiled. Source: shutterstock.com
Bank of Thailand has launched the world’s first blockchain-based platform for government savings bonds.
IBM Cloud allows investors to benefit from speedy bond issuance, reducing a process that previously took 15 days to 2 days.
The efficiency provided by blockchain also reduces operational complexity and the overall cost of issuing bonds.
That makes the government savings bond platform a real-time single source of truth for network participants. It minimizes redundant validation and reduces the costs of reconciliation.
Besides, Thai investors can now purchase bonds up to the maximum value of their individual allocated quota from a single bank.
We’ve reported that Mitsubishi?has teamed up?with US company Skuchain to launch the ECO blockchain platform for precious metals trading.
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