• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    michael saylor bitcoin forecast

    Michael Saylor Predicts Bitcoin’s 30% Annual Growth for 20 Years

    michael saylor bitcoin meeting

    Michael Saylor Projects 30% Bitcoin Growth Over 20 Years

    michael saylor bitcoin lecture

    Michael Saylor Projects 30% Annual Bitcoin Growth

    powell gazes at bitcoin art

    Jerome Powell Labels Bitcoin a Digital Gold Competitor

    powell financial optimism art

    Powell Likens Bitcoin to Digital Gold, Sparks Market Activity

    opulent businessman oil painting

    Ricardo Salinas Pliego Allocates 80% Wealth to Bitcoin

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    futuristic wall street ethereum

    Peter Thiel Backs Ethereum for Wall Street Integration

    peter thiel ethereum visionary art

    Peter Thiel Invests Heavily in Ethereum for Wall Street Expansion

    futuristic ethereum cityscape

    Peter Thiel Invests in Ethereum for Wall Street Infrastructure

    peter thiel ethereum investment

    Peter Thiel Bets on Ethereum for Wall Street Use

    layerzero stargate merger artwork

    LayerZero Acquires Stargate Finance in $120M Deal

    ethereum investor reflective art

    Ethereum Investor Loses $1.54M in EIP-7702 Scam

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

The Government of Austria to Use Ethereum for Bonds Auction

Joshua T. by Joshua T.
September 29, 2018
in Finance & Blockchain, Latest News

The Government of Austria, which has fallen deep into debt just like most countries on the planet is looking to employ the use of the Ethereum blockchain as part of the solutions to its debt problem. This is expected to be done by auctioning some Ethereum issued and authenticated government bonds worth about 1.15 billion euros.

Desperate Times Calls for Bonds Auctioning

The country will be auctioning bonds worth about raise 1.15 billion euros come, October 2, 2018, in its attempt to stay debt free. The country will be offering two classes of bonds up for auction.
The first class will be maturing in about five years time and the other class will be maturing in 10 years time. The 10-year maturing bond is expected to yield an interest of 0.78% yearly which will then be compounded.

For those not familiar with how Government bond work, you can easily relate it to a form of IPO/ICO whereby the shares available for sales represents a stake in the Government task returns. So instead of having to deal with less certain situations that involve several ups and downs when it comes with partaking in an ICO or IPO, investors in Government bond auctions are more guaranteed of getting returns on their investments. Although the interest is far below what an ICO or IPO could yield, the guarantee level is almost 100%.

Issuance of Bonds

OeKB (Oesterreichische Kontrollbank) bank will be in charge of issuing the Austrian Government bonds. In the country’s effort to minimize the costs of operation and also maximize efficiency, the bond issuance will be done using the Ethereum blockchain network. The network will also be used for authentication of the bonds. Although the bonds will be issued using the Ethereum Network, it will not be sold like a traditional token. So this is clearly not a token sales as the bonds will not be tradable.

What the Government has to Say

The Austrian finance minister Hartwig Löger said the following in a statement:

“For us, blockchain technology is an important part of economic policy. With the establishment of the Fintech Council in the Ministry of Finance, we are developing strategies so that Austria can profit from these developments as much as possible.”

The use of blockchain by a country such as Austria, which is well-known to be quite conservative, is a welcomed move and it is also regarded as an overall positive news for the world’s Crypto industry.

Tags: AustriabondsEthereumGovernment
Previous Post

A Beginner’s Guide to What is Ripple (XRP)

Next Post

Rampant Collusion in EOS Exposed by Huobi Leak

Joshua T.

Joshua T.

Related Posts

businessman tension dusk la art

Federal Indictment Filed Against Former Los Angeles Bank Manager

by Solomon M.
August 25, 2025

Weixin "Tony" Chen indicted for bank fraud and identity theft, affecting Los Angeles financial sector.

concerned ex bank manager art

Federal Indictment Filed Against Former Los Angeles Bank Manager for Alleged Fraud

by Solomon M.
August 25, 2025

Federal charges filed against ex-bank manager for alleged fraud, impacting financial systems.

stern ex bank manager painting

Federal Indictment Filed Against Ex-LA Bank Manager for Alleged Fraud

by Solomon M.
August 25, 2025

Federal indictment filed against ex-LA bank manager for alleged fraud at Cathay Bank branches.

emotional legal drama oil painting

Federal Indictment Filed Against Ex-Bank Manager Chen

by Solomon M.
August 24, 2025

Ex-Cathay Bank manager Weixin "Tony" Chen indicted for fraud, embezzling funds, impacting traditional banking channels.

contemplative businessman art

Federal Indictment Filed Against Former Los Angeles Bank Manager

by Solomon M.
August 24, 2025

Federal indictment accuses former Los Angeles bank manager Weixin "Tony" Chen of orchestrating large-scale fraud. No crypto market impact noted.

fraud indictment portrait art

Former LA Bank Manager Indicted for Fraudulent Activities

by Solomon M.
August 24, 2025

A former LA bank manager allegedly defrauded customers; crypto assets remain unaffected.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.