CURRENT AFFAIRS

2018

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The World Bank has mandated which of the following bank to issue the world’s first blockchain-based bond?

A	Hongkong and Shanghai Banking Corporation
B	Bank of America
C	Industrial and Commercial Bank of China
D	Commonwealth Bank of Australia

Explanation:

Detailed explanation-1: -In August 2018, the World Bank launched its bond-i, short for “blockchain operated new debt instrument.” The new bond was created through Australia’s Commonwealth Bank (CBA).

Detailed explanation-2: -Detailed Solution: The World Bank launched bond-I (blockchain operated new debt instrument), the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology.

Detailed explanation-3: -HSBC. The bank is using the R3 blockchain platform for enabling Digital Vault – a custody blockchain platform for storing digital assets. The technology helps with lowering the cost of their custodial service to a huge extent.

Detailed explanation-4: -The World Bank launched world’s first public blockchain bond named bond-i created, allocated, transferred and managed by using blockchain technology. Bond-i is an acronym standing for Blockchain Offered New Debt Instrument and also refers to tourist famous Bondi Beach in Sydney, Australia.

There is 1 question to complete.