The Palau government has launched Palau Invest, a “blockchain-based savings bond prototype system.” A public demonstration system has also been launched after the prototype was completed. The project is supported by the Japanese Ministry of Economy, Trade and Industry and the Soramitsu blockchain. The project is designed to fund the country’s infrastructure projects.

Palau citizens will be able to purchase the bonds through an app on their phones after receiving approval from the Ministry of Finance. President Surangel Whipps Jr. said the initiative will help finance important projects such as housing, SME development, roads, and other essential services.

The Palau bond will run on the Hyperledger Iroha 2 blockchain on the Sora v3 Hub Chain platform. Soramitsu developed Iroha and contributed to the Linux Foundation Hyperledger Project. It’s also worth noting that Palau has launched a US dollar-pegged stablecoin in a joint project with Ripple and is moving into the second phase of this project.

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