BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Tel Aviv Stock Exchange Pioneers Blockchain Integration with Dummy Digital Government Bond and Shekel Tokenization

by Dan K
Jun 7, 2023 - 9:03 pm
in Blockchain
An image representing the Tel Aviv Stock Exchange's proof of concept phase in blockchain integration.

A Significant Stride in Blockchain Integration

The Tel Aviv Stock Exchange (TASE) has reached a milestone in its journey toward the integration of blockchain technology and traditional assets, successfully minting the first dummy digital government bond as an ERC-1155 security token. This development is part of the proof of concept (PoC) phase of Project Eden, a collaboration between the Israeli Ministry of Finance and the stock exchange. The initiative aims to utilize blockchain infrastructure for issuing and settling government bonds.

Tokenizing Fiat and Bonds

In addition to the digital bond, the PoC included the tokenization of the Israeli Shekel, Israel’s fiat currency. This digital payment token will facilitate transactions as part of the settlement process. Moreover, a smart contract for bond management serves as an intermediary, ensuring that transactions are verified and free of inconsistencies.

Unveiling Project Eden

The initiative’s go-live event attracted several local and international banks, manifesting the worldwide interest in this unprecedented application of blockchain in capital markets. The blockchain infrastructure for Project Eden is built on an Ethereum Virtual Machine (EVM)-compatible blockchain, which opens up avenues for future integration with other blockchain solutions.

Toward a New Era in Capital Markets

According to the CEO of Tel Aviv Stock Exchange, Ittai Ben Zeev, Israel, dubbed the ‘Startup Nation,’ is poised to play a pivotal role in the digital transformation of capital markets. Using Ethereum’s ERC-1155, a single deployed contract can represent and control a mixture of fungible and nonfungible tokens in any quantity.

The Global Context

This initiative aligns with the worldwide trend toward integrating blockchain technology in financial services. Institutions such as the Bank of England and the Bank for International Settlements are developing blockchain-based settlement systems. In Israel, the central bank is examining stablecoin adoption and the potential issue of a Central Bank Digital Currency (CBDC) to maintain control over the country’s digital payments system in the future.

Tags: AdoptionBlockchainFintechSecurity
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Close-up of Tether's ToS document with highlighted changes related to Singaporean customers.

Tether Restricts USDT Redemption for Certain Singapore Groups: Impacts and Implications

September 25, 2023

Tether, the stablecoin giant, has shifted its ToS, barring certain Singapore entities from redeeming USDT. Cake DeFi's CEO...

Blockchain investigator ZachXBT reviewing a controversial Gotbit document.

Blockchain Investigator ZachXBT Exposes Gotbit’s Controversial Services

September 25, 2023

Blockchain investigator, ZachXBT, takes aim at Gotbit over a leaked report, unveiling potentially manipulative services in the crypto...

Graphic representation of Mixin Network with alert signs indicating system vulnerabilities.

Mixin Network Hack Drains $200M from Mainnet Assets

September 25, 2023

Decentralized peer-to-peer platform, Mixin Network, confirms an approximately $200 million crypto asset loss following a security compromise.

Illustration of Google Cloud's BigQuery connecting with multiple blockchain symbols.

Google Cloud’s BigQuery Encompasses 11 More Blockchains: An Inclusive Cryptocurrency Landscape

September 25, 2023

Google Cloud’s BigQuery now integrates with 11 blockchains, enhancing the scope of crypto analytics and offering a deeper...

Press Releases

David Ferrucci next to the Elemental Cognition brand emblem.

BM Watson’s Lead Developer Secures $60M for New AI Venture, Elemental Cognition

August 18, 2023

David Ferrucci, has raised a remarkable $60M for his AI startup. The company brings forward two pioneering chatbot solutions designed...

pulse5

Amsterdam Gets with the Dutch Blockchain Days the Biggest Event of the Benelux in the Field of Blockchain, Crypto Currencies, NFTs and Other Web3 Developments

May 8, 2023

Discover the future of blockchain, crypto, NFTs, and Web3 at Dutch Blockchain Days, the largest event in Benelux.

pulse4

Korea Blockchain Week 2023 Set to Push the Boundaries after Record-Breaking 2022 Event

May 8, 2023

Korea Blockchain Week 2023 returns after a highly successful 2022 event, featuring leading experts and the latest trends in blockchain...

pulse3

Istanbul Will Be Hosting Eurasia’s Largest Blockchain Event Once again on May 8–11, 2023

May 8, 2023

Join Eurasia's largest blockchain event, the Blockchain Economy Istanbul Summit, May 8-11, 2023, and discover the future of financial technology.

View All
BTC-Pulse LogoTransparent

© 2023 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2023 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise