The World Bank is getting in on blockchain

CNN, Aug 10, 2018
by Daniel Shane

The World Bank is turning to blockchain to help it raise money.

The international lender is planning to issue what it says is the world's first global blockchain bond, a notable mainstream endorsement of the emerging technology.

Blockchain is best known as the technology underpinning bitcoin and other cryptocurrencies. It serves as a digital record of financial transactions.

The World Bank has hired Commonwealth Bank of Australia (CBAUF) to manage the bond, which is expected to raise as much as 100 million Australian dollars ($73 million).

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