Jerusalem, Oct 20 (SocialNews.XYZ) Israel will issue government bonds on a blockchain platform for the first time, the Ministry of Finance and the Tel Aviv Stock Exchange (TASE) have said in a joint statement.
The pilot issuance of digital government bonds will be conducted by the digital-asset technology companies VMware and Fireblocks, Xinhua news agency reported, citing the statement
As part of the issuance, leading international and local banks will participate in a live test, during which they will be connected to a dedicated blockchain system.
The new platform for the trading and clearing of digital assets, based on the innovative technologies of blockchain, smart contracts, and tokenization, will be developed by TASE and selected technology vendors.
The introduction of the new project is motivated by the developments in the financial markets in recent years, the statement said.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz