 | The project will include the digitalization of a new series of bonds and its issuance to the system participants. As part of the issuance, the leading banks, both international and local (primary dealers), will participate in a "live test", during which they will be connected to a dedicated Blockchain system that will be developed by TASE and the selected technology vendors - VMware Blockchain and Fireblocks. Project "Eden" Kicks Off: For the First Time in Israel - The Ministry of Finance and The Tel Aviv Stock Exchange (TASE) Prepare for the Issuance of government Bonds on a Blockchain Platform (prnewswire.com) What is the value of digital bonds on a blockchain? Reduced trading costs, shortened duration of issuance and clearing government bonds, improved transparency, streamlined processes and mitigated risks." What's the significance of the Fireblocks integration? Fireblocks is a major player in institutional crypto custody. They have over 1500 customers and $100M in ARR. However, most digital asset custody is happening with crypto assets. The market cap for crypto assets is ~$1T. The TASE solution will digitize traditional bonds (non-crypto assets) which represents much larger ~$100T global bond market cap. If you consider all other traditional assets being digitized/tokenized (stocks, real estate, precious metals, etc) the opportunity is massive. Why do this on a blockchain like VMware Blockchain for Ethereum? To meet regulatory and enterprise-grade system requirements like scalability, performance, privacy and governance. The blockchain platform is compatible with the Ethereum Virtual Machine (EVM), and therefore if TASE or the Ministry of Finance wants to interoperate with public Ethereum in the future there will be a consistent path to do so. [link] [comments] |
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