Austria’s government will use the Ethereum public blockchain to issue 1.15 billion euros ($1.35 billion) worth of government bonds in an auction next week, according to local news outlet Kleine Zeitung.
Oesterreichische Kontrollbank (OeKB), one of Austria’s biggest banks with $26 billion in assets in 2017, will operate the live blockchain notarization service, Cointelegraph notes. During the auction, scheduled for Oct. 2, the bank will issue the bonds on behalf of the Austrian Treasury.
OeKB says this will be the the first time a blockchain-based notarization service will be used as part of a federal bond auction in Austria. Read more here.