RATE Group | Austria Turns to Public Ethereum Blockchain for €1.15 Billion Bond Auction
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Austria Turns to Public Ethereum Blockchain for €1.15 Billion Bond Auction

28 Sep Austria Turns to Public Ethereum Blockchain for €1.15 Billion Bond Auction

Posted at 15:13h in Ethereum News by

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Austria Vienna Ethereum blockchain

Austria will raise a total 1.15 billion euros in a federal bond auction on Oct. 2 using blockchain notarization, according to Oesterreichische Kontrollbank (OeKB), which oversees the auctions for issuing federal bonds as a neutral capital market participant for the Austrian Federal Financing Agency (OeBFA). The auction demonstrates Austria’s pioneering role in Europe for deploying blockchain technology for sovereign bond issues, according to the notice posted on the Finance Ministry website.

Two outstanding German government bonds, 0.75% Federal Bond 2018 – 2018 and 0.00% Federal Bond 20166 – 2023, will be auctioned, comprising 1.15 billion euros.

The OeKB IT department implemented the project using the Ethereum blockchain, according to Kleine Zeitung.

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“The digitization of the financial sector, also known as fintech, has long arrived in Austria,” Finance Minister Hartwig Loger said in a prepared statement. “We need to use the…

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