Thailand issues $ 1.6 billion government bonds on blockchain
The Bank of Thailand used a blockchain platform to issue $ 1.6 billion in government savings bonds.
The country’s central bank chose the IBM Blockchain as the basis for its platform. According to company representatives, the project was launched just two weeks ago, but has already helped to significantly speed up and simplify the issue of securities.
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Previously, the entire process took 15 days, but now it took only two days to complete. The solution also reduces operational and reconciliation costs for all network members.
In the future, the Bank of Thailand plans to use the blockchain to issue other types of government bonds, both for retail and institutional investors. Since June, the Central Bank has also been working on creating a payment system based on its own digital currency.