The Israeli Ministry of Finance has initiated a test run of the Eden blockchain platform, created specifically for trading new government digital bonds.
Israel’s Ministry of Finance will issue government tokenized digital bonds, which can be purchased in test mode through a special platform called Eden. This was reported by the local media.
Banks participating in the pilot project will be able to get the new financial instruments to e-wallets through the platform by transferring an equivalent amount in digital currencies to the Israeli government’s “crypto” wallet.
Which digital currency will be used to buy bonds isn’t specified. Testing of Eden is scheduled to be completed by the end of Q1 2023.
Fireblock, a custodial cryptocurrency company, and VMware, an American software developer, took part in the creation of the Eden blockchain project. Testing of the platform will be done with the participation of the Tel Aviv Stock Exchange (TASE).Many countries around the world are interested in issuing government blockchain bonds. For example, the Philippine banking giant issued innovative blockchain-based peso bonds in June of this year, raising about $209 million.
