Service: Austrian Federal Government's Finance Agency, Oesterreichische Kontrollbank

Responsible organisation: Finance Agency (Governmental)

The Austrian government is to use the ethereum blockchain to notarize the auction of a government bond worth €1.15 billion, or around $1.3 billion. The Federal Government’s Finance Agency (OeBFA) has assigned banking giant Oesterreichische Kontrollbank (OeKB) to carry out the auction on its behalf. The bank’s responsibilities will include deploying the notarisation service to authenticate auction transaction data and subsequently store it on the blockchain, the agency explained.“Blockchain technology offers great potential for increasing efficiency and ensuring the quality of bank processes. Therefore, we have been dealing with this topic intensively for some time now and have already tested several prototypes. Starting the real operation on behalf of OeBFA is a pleasing and logical next step.”

Additional information

Source EU Blockchain Observatory and Forum - Initiatives Map
Web site https://www.coindesk.com/austrian-government-to-notarize-1-3-billion-bond-auction-using-ethereum/
Start/end date 2018 -
Still active? Yes

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