Crédit Agricole CIB and SEB are collaborating to launch a green-tinged blockchain-induced bond platform. Report gathered so far on this development says that the platform is called So|Bond and runs on a blockchain system that is programmed to reward those who participates in enhancing the footprint of their environment.
It is also gathered that with this platform, issuers in the different capital markets in the world will have the capacity to deliver digital/electronic bonds with the help of a blockchain network. A few stakeholders who were contacted to comment on this development said that this development will go a long way in enhancing efficiency, facilitating aAzing data between participants in real-time.
From the information given on the workings of this system, it is designed to work with various systems like the validation protocol, and the Proof of Climate Awareness. Further details explained that these factors encourage users to reduce their footprint in their environments.
It is also said that so|bond will help users raise and manage capital, securities via a safe smart contract, and tools that are meant to control, execute, and document actions and events automatically while abiding by the terms and conditions of the contract.
Experts Description Of The Workings Of So|Bond
Expert description of this system says that this platform is meant to use consumable energy that is equivalent to a non-blockchain system. It has a feature that gives incentives to every node that participated hence, continuously enhancing the environmental footprint of such participants’ installations.
It has also been further stated that every node will be rewarded according to the formula tagged to the impact on the climate. This is also measured with the Cycle Assessment ISO standard, which is assumed to have a lower climate footprint that is bigger than the reward.
While describing the operations of So|Bond, it was disclosed that the technology that propels the blockchain system was designed with the help of Finaxys, which is the official IT provider. It was also gathered that the environmental footprints are ascertained by the methodology that has been developed/designed by APL Data Center.