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

    Bitcoin Dips on Trump’s Russia Tariff Proposal

    BlackRock’s Bitcoin ETF Eyed to Hit $100B Milestone

    Satoshi-Era Bitcoin Moved in Landmark $2.4B Transaction

    Record $3.7B Weekly Inflows Boost Crypto ETP Market

    Bitcoin Open Interest Reaches $85B Ahead of Key US Vote

    Metaplanet Acquires 797 BTC in Major Investment

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

    Dogecoin Price Surges Amid Market Speculation and Trading Volume Spike

    BTC Digital Establishes $1 Million Ethereum Reserve

    Binance Launches New Token Platform Amidst PumpFun Speculation

    XRP Analyst Predicts Rally to $38 Amid Breakout Signals

    Crypto Analyst Predicts 555% Surge for LUNC Price

    Trump Memecoin Faces Massive 50% Token Unlock

    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

xAI Introduces AI Tools Suite for US Government

by Solomon M.
July 14, 2025

Elon Musk's xAI launches 'Grok for Government' with a $200 million Defense contract.

Grayscale Submits Confidential IPO Filing to U.S. SEC

by Solomon M.
July 14, 2025

Grayscale Investments has confidentially submitted an IPO draft to the SEC, expanding its public market reach.

Grayscale Files Confidential IPO with US SEC

by Solomon M.
July 14, 2025

Grayscale has filed draft IPO paperwork with the SEC, potentially opening new investment avenues for its crypto products.

Kazakhstan Evaluates Crypto Investments Using National Reserves

by Solomon M.
July 14, 2025

Kazakhstan considers leveraging national reserves for crypto investments, led by Bank Governor Suleimenov.

BlockFi DOJ Settlement Finalized Amid Bankruptcy Process

by Solomon M.
July 14, 2025

BlockFi and DOJ reach $35M settlement in bankruptcy proceedings, helping BlockFi progress with creditor repayments.

Elon Musk’s xAI Secures Defense Contract with ‘Grok for Government’

by Solomon M.
July 14, 2025

Elon Musk's xAI announces a new Department of Defense contract for 'Grok for Government,' boosting AI capabilities in federal sectors.

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.