It’s not a matter of “IF” Crypto will take on the financial world, but rather just a question of “WHEN”.

You can either get left behind or prepare to become mega wealthy, because getting in on the boom of a lifetime is how generational wealth is made.

Right now, the bond market is about 3 times bigger than the stock market. Government bonds make up a large proportion of the secondary market, with a total value of $22.116 trillion across the world as of September 2018.

And cryptocurrencies are going to replace it.

Without getting too deep, cryptocurrencies allow contracts to be written that do not require middlemen.

In September 2018, Austria became the latest government to successfully trial blockchain platforms to issue government bonds. The trial follows in the footsteps of the Australian and Thai governments, both of whom developed blockchain bond issuing platforms earlier this year.

J.P. Morgan has also tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, of which the Canadian bank issued a $150m one-year floating-rate Yankee certificate of deposit, with a parallel simulation of the issuance, using blockchain technology.

Image Source: Pixabay

https://cointelegraph.com/news/government-bonds-how-blockchain-can-beat-the-red-tape

https://www.jpmorgan.com/country/MY/en/detail/1320566740924

The post Blockchaining Sukuk appeared first on Blockchain Insider.