Crédit Agricole CIB and SEB, two financial powerhouses, have teamed up to launch an innovative platform, named so|bond, that allows issuers to issue digital bonds on a blockchain network in real time.
This move is expected to contribute towards the green agenda of the European Union by encouraging users of the digital securities platform to minimize their environmental impact.
One of the unique features of the platform is the use of a new type of blockchain verification logic – Proof of Climate – which confirms user awareness of the climate before the issuance of digital bonds.
This technology will allow issuers to raise capital and manage securities using smart contracts, all while minimizing their carbon footprint.
According to project participants, the so|bond platform will introduce additional innovations, such as the use of central bank digital currency (CBDC), and will allow for automatic execution, control, or documentation of events.
The scalable nature of the platform promises a bright future for digital bonds, and further advancements in the field are expected.
It is noteworthy that Greenpeace, an international environmental organization, recently held the “Satoshi Skull” campaign to highlight the environmental dangers of bitcoin mining and the blockchain consensus mechanism.
The introduction of Proof of Climate in the so|bond platform is a significant step towards a more eco-friendly financial ecosystem.