The government of Palau has introduced Palau Invest, a prototype system for blockchain-based savings bonds. With the completion of the prototype, a public demonstration system has been initiated. Japanâs Ministry of Economy, Trade and Industry, along with the Soramitsu blockchain, are backing the project to raise funds for infrastructure projects. The Finance Ministry is in the process of finalizing bond issuance criteria and seeking government approval. Around 18,000 Palau citizens will have the opportunity to purchase bonds through a mobile app provided by the ministry. The Palau savings bond will be built on the public, permissioned Hyperledger Iroha 2 blockchain on the Sora v3 Hub Chain platform. Soramitsu, the developer of Iroha, continues to offer technical and business support for the blockchain. Additionally, Soramitsu has been involved in various other blockchain projects in countries like Cambodia, Laos, and the Solomon Islands. Read more AI-generated news on: https://app.chaingpt.org/news
Palau Launches Blockchain-Based Savings Bonds Prototype System
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