(News Bulletin 247) – Crédit Agricole announced on Monday the launch, alongside the Swedish bank SEB, of a platform dedicated to digital bonds based on blockchain technology.
The project, dubbed ‘so|bond’, is meant to be both ‘sustainable’ through its incentive to reduce resource consumption and ‘open’ to actors wishing to understand or contribute to semi-open governance.
Through this tool, issuers will be able to issue digital bonds on a blockchain network allowing real-time data synchronization between participants.
Blockchain technology makes it possible to digitize and secure exchanges within the banking and financial sectors thanks to a decentralized and efficient infrastructure.
The network uses a ‘Proof of Climate awareness’ validation protocol which encourages participants to minimize their environmental footprint.
The platform’s open, transparent and secure model aims to foster trust among market participants by opening the door to innovations such as the use of a future central bank digital currency.
At SEB, it is explained that the project will be an opportunity to understand what the future will hold in terms of transparency, processing and operational simplifications, with the objective of using the obligations as a first step before extending the platform to other asset classes.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
