According to a statement made on Wednesday by the Tel Aviv Stock Exchange (TASE), the Israeli government is getting ready to issue bonds utilising a blockchain technology platform. According to the TASE, utilising cutting-edge technology like blockchain would save costs, hasten the issuing and clearing of government bonds, increase transparency, and decrease risks.
The application for the sale of digital government bonds on a blockchain platform is now being reviewed by the Finance Ministry and TASE since the issue is still in the planning stages. The use of Blockchain Distributed Ledger Technology (DLT) and the potential creation of central bank digital currencies, according to the TASE and Israel’s Accountant General, have been driving forces in recent financial market developments.
Local and international banks will take part in a live test as part of a pilot issue and will be linked to a specific blockchain system that will be created by the TASE and private businesses. The problem will eventually move to electronic wallets and be expressed in digital money.
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