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The World Bank launched world’s first public blockchain bond named bond-i created, allocated, transferred and managed by using blockchain technology.
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Bond-i is an acronym standing for Blockchain Offered New Debt Instrument and also refers to tourist famous Bondi Beach in Sydney, Australia.
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Bond-I is Ethereum blockchain bond denominated in Australian dollars, making it Kangaroo bond (referring to foreign bonds issued in Australia in local currency).
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Funds raised through it will go towards endeavours tied to World Bank’s Reconstruction and Development division for sustainable development initiatives.