Blockchain-Powered Platform for Digital Bonds Trading Launched by Traditional Banks
Credit Agricole CIB, a French investment bank, and SEB, a Swedish bank, have teamed up to create a blockchain-based platform for digital bonds, aiming to improve efficiency and enable real-time data synchronization. The platform will allow companies to raise capital by issuing digital bonds on a blockchain network and users will be able to manage securities and raise capital through smart contracts. The project, named sobond, joins other similar technology platforms being applied to conventional markets. Although the banks’ statement did not mention when sobond would start operating, they confirmed the use of a validation protocol called “Proof of Climate awaReness.” This protocol encourages users to minimize their environmental footprint by remunerating each node based on a formula linked to its climate impact. The lower the environmental footprint, the larger the reward.
Clever Robot News Desk 5th April 2023