Bank of Thailand, IBM to launch blockchain-based government savings bond

Monday 5 October 2020 16:08 CET | News

US-based IBM has teamed up with Bank of Thailand (BOT) to launch a blockchain-based platform for government savings bonds, using IBM blockchain technology.

As a result of the partnership, the companies have issued a total of USD 1.6 billion within two weeks. Leveraging blockchain technology on IBM Cloud, the platform allows investors to issue bonds and to reduce operational complexity with the use of blockchain.

Other benefits and the business value of using blockchain technology for government bond distribution include decreased workloads and processing time for issuers, underwriters and registrars, as well as greater transparency. Bank of Thailand now plans to extend blockchain to all other government bonds targeting both retail and wholesale investors.

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Keywords: Bank of Thailand, IBM, blockchain, savings bonds, USA, Thailand
Categories: DeFi & Crypto & Web3
Countries: United States
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DeFi & Crypto & Web3