Austria launched use of blockchain technology for government bond auctions

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Various blockchain technology and similar solutions have been evaluated to use its positive impact on the auction procedure for the issue of government bonds by the Republic of Austria. On October 2, 2018, for quality assurance purpose, a live blockchain operation has launched by Oesterreichische Kontrollbank (OeKB), on behalf of the Austrian Treasury.

The objective of launching the operation is to add security in the auction process by constituting a non-manipulable system and indirectly strengthens Austria's excellent standing in the market through contributing favorable financing costs.

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