BlackRock, the world's largest asset manager, recently made history by acquiring municipal debt through a blockchain-based transaction. This groundbreaking move involved the purchase, settlement, and holding of municipal bonds on a blockchain platform for the first time. The bonds, issued by Quincy, Massachusetts, earlier this year and underwritten by JPMorgan Chase & Co., were transacted using JPMorgan's Digital Debt Service blockchain application. This innovative approach not only streamlines the bond issuance process but also enhances transparency and security in municipal finance. BlackRock's acquisition, made through its MEAR ETF, totaled $6.5 million in Quincy bonds. This milestone signifies the potential of blockchain to revolutionize capital markets. Despite risks like liquidity issues and coding limitations, the use of blockchain in municipal bonds is gaining traction, with BlackRock leading the way in embracing blockchain technology in traditional finance. Read more AI-generated news on: https://app.chaingpt.org/news