Bond-i: World Bank launches world's first blockchain bond

The World Bank has launched world's first public blockchain bond named bond-i created, allocated, transferred and managed by using blockchain technology.

• Bond-i is an acronym standing for Blockchain Offered New Debt Instrument and also refers to the tourist famous Bondi Beach in Sydney, Australia.
• Funds raised from this bond will go towards sustainable development initiatives.

About Bond-i:

• Bond-i is an Ethereum blockchain bond denominated in Australian dollars, making it a Kangaroo bond (referring to foreign bonds issued in Australia in local currency). 
• World Bank had chosen the Commonwealth Bank of Australia (largest bank in Australia) as sole arranger for this bond.
• The bond has a two-year maturity and had raised Australian $100 million (US$73.16 million) after its issuance.
• It was issued and distributed on blockchain platform that runs on a private Ethereum network managed and operated by CBA and World Bank.
• Funds raised through it will go towards endeavours tied to World Bank's Reconstruction and Development division for sustainable development initiatives.

What is Blockchain Technology?

• Blockchain is a decentralized incorruptible digital ledger for storing data across peer-to-peer network.
• It decentralizes information without it being copied.
• Information is held on blockchain through shared database which can be accessed on a real-time basis.
• This database is not stored on physical servers but on cloud, which makes it easy to store unlimited data.
• Blockchain technology is not controlled by any single entity and has no single point of failure.
• It is transparent and incorruptible.
• The most popular application of this technology so far has been cryptocurrency.
• But it is not limited to, financial transactions and can be also used in smart contracts, supply chain management logistics, sharing economy, crowdfunding, governance, file storage and date management and Internet of Things (IoT).

Question:

Q. What is the name of world's first public blockchain bond that the World Bank has launched?
a. Bond-b
b. Bond-w
c. Bond-i
d. None of the above