According to information, Israelian government said that, it is planning to issue bonds using a blockchain technology platform, the Tel Aviv Stock Exchange (TASE) announced today on Wednesday.
As stated by the TASE, adopting advanced technology like blockchain will save costs, cut down on the time needed for the issuance and clearance of government bonds, increase transparency, and lower the risks.
The Finance Ministry and Tel Aviv Stock Exchange (TASE) are currently reviewing the application to offer digital government bonds on a blockchain network while the problem is still in the planning phases.
The utilization of Blockchain Distributed Ledger Technology (DLT) andas well as prospective creation of central bank digital currencies, according to the TASE and Israel’s Accountant General, are what motivated them.
Local and foreign banks will participate in a test run as part of a pilot scheme, and they will be connected to a particular blockchain system that the TASE and private companies will build. The issue will ultimately arise with digital currency and extend to electronic wallets.
image credit : wikimedia commons
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