Bank of Thailand uses blockchain platform to issue $ 1.6 billion 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 only two weeks ago, but has already helped to significantly speed up and simplify the issue of securities..
Thailands financial regulator issues $ 1.6bn blockchain bond
Previously, the entire process took 15 days, but now it took only two days to complete the process. 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 the creation of a payment system. based on our own digital currency.
text: Ivan Malichenko, photo: Shutterstock