Blockchain & Crypto

First blockchain-based platform for government savings bonds unveiled

The platform will benefit both the government and investors

blockchain platform

First blockchain-based platform for government savings bonds unveiled. Source: shutterstock.com

Bank of Thailand has launched the world’s first blockchain-based platform for government savings bonds.

IBM Cloud allows investors to benefit from speedy bond issuance, reducing a process that previously took 15 days to 2 days.

The efficiency provided by blockchain also reduces operational complexity and the overall cost of issuing bonds.

That makes the government savings bond platform a real-time single source of truth for network participants. It minimizes redundant validation and reduces the costs of reconciliation.

Besides, Thai investors can now purchase bonds up to the maximum value of their individual allocated quota from a single bank.

Bank of Thailand's success with the government savings bond project is the latest example of how blockchain technology can redefine the way businesses operate by simplifying complex processes resulting in fast, transparent, secured, and efficient multiparty collaboration. IBM is proud to bring our world-class blockchain platform and IBM Cloud to support Bank of Thailand, and work side-by-side with them in achieving this important milestone for Thailand's financial industry
Patama Chantaruck, VP for Indochina Expansion and MD of IBM Thailand

We’ve reported that Mitsubishi has teamed up with US company Skuchain to launch the ECO blockchain platform for precious metals trading.

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