The proof of concept also included the tokenization of an Israeli Shekel to be used as a digital payment token in settlements.
A new phase in the Tel Aviv Stock Exchange's integration of blockchain technology and traditional assets has beenwith the minting of the first dummy digital government bond as an ERC-1155 security token.
The bond mint is part of the proof of concept phase of Project Eden, a partnership between the Israeli Ministry of Finance and the stock exchange to explore blockchain infrastructure in issuing and settling government bonds. Also included in the proof of concept was the tokenization of an Israeli Shekel — the country's fiat currency — which will serve as a digital payment token to power transactions. As part of the settlement process, a smart contract for bond management is used, which acts as an intermediary to ensure that transactions are verified and do not contain inconsistencies.
“We believe that the Startup Nation can play a leadership role in the digital transformation of the capital markets. [...] We believe that the capital market information will be completely different in a few years, and it is our job to lead the revolution,” said Ittai Ben Zeev, the CEO of Tel Aviv Stock Exchange., allowing future integration with other blockchain solutions.
Blockchain-based settlement systems are also under development at the Bank of England and the Bank for International Settlements. Recently, the institutions
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