• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    mining

    Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

    Bitcoin wallet

    BitcoinOfficial.org- Create a Bitcoin Wallet. Official Website.

    Bitcoin price

    What Drives Bitcoin Price?

    Mining

    Railway Authorities in Ukraine Shut Down Unlawful Mining Outfit

    Bitcoin

    Economic Crises Will Not Affect Bitcoin: Ledger Founder

    Supply and Demand

    Bitcoin’s Demand and Supply Dynamics are Constant: Bitwise COO

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

    XTZ

    TEZOS (XTZ) Join the Top 10 Crypto Coin List

    MakerDAO

    MakerDAO to Implement New Security Feature After Loophole Detected in System

    BCH

    BCH Successfully Completed a Scheduled Fork, Added Minor Upgrades

    CUSD Stablecoin

    Canadian BVCI Launches Another Stablecoin CUSD

    EOS network

    EOS Network Is Running on Borrowed Resources After EIDOS Airdrop

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    How to Make the Right Decision before Investing in Crypto

    How to Make the Right Decision Before Investing in Crypto

    Decentralized Marketplace

    What are Decentralized Marketplaces?

    Cryptocurrency is Here to Stay

    5 Reasons Why Cryptocurrency Is Here to Stay

    Web3 Pets

    Spotlight on Web3 Pets – Will 2023 Be Their Year?

    Crypto Swapping

    A Definitive Guide on Swapping Cryptocurrency

    crypto casino games

    What Are the Most Profitable Crypto Casino Games?

  • 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.

Invest at your own risk notice : The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

Related Posts

CZ tweets on FTX

CZ tweets on FTX: “Sad day. Tried, but [crying emoji]”

by Hellen
November 10, 2022

CZ, the CEO of Binance, tweets, "Sad day. Tried, but ," regarding the fully acquire of FTX.com.  https://twitter.com/cz_binance/status/1590463239925944320 On...

Google Cloud Is Indexing Solana Data

Google Cloud Is Indexing Solana Data and Bringing it to BigQuery

by Hellen
November 8, 2022

Google Cloud has announced that it is working with Solana to bring Blockchain Node Engine to the Solana chain next...

Mark Zuckerberg’s Meta Mismanagement Ruined the Stock Price

by Hellen
October 27, 2022

If you checked the stock market, Meta's stock has reached $114.20. Not bad, some would say. But considering that the...

What Is “Play-to-Earn” Gaming?

by Hellen
May 19, 2022

To think about all the ways that life has changed over the last twenty years thanks to the unprecedented rise...

How Does Cryptocurrency Gain Value

How Does Cryptocurrency Gain Value

by Aggrey A.
April 7, 2022

Learn how cryptocurrency gains value and how you can use that information to become a better crypto investor. Arguably the...

richest bitcoin owners

These Are the Richest Bitcoin Owners in 2022

by Hellen
March 10, 2022

When Bitcoin was launched in 2009, its net worth was less than ten cents for each Bitcoin. Nevertheless, it’s true...

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

Guides & Reviews

How to Make the Right Decision before Investing in Crypto

How to Make the Right Decision Before Investing in Crypto

January 18, 2023
Decentralized Marketplace

What are Decentralized Marketplaces?

January 16, 2023
Cryptocurrency is Here to Stay

5 Reasons Why Cryptocurrency Is Here to Stay

January 11, 2023
Web3 Pets

Spotlight on Web3 Pets – Will 2023 Be Their Year?

January 10, 2023
  • 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.