European Investment Bank uses blockchain for environmental bond
The European Investment Bank (EIB) successfully priced its inaugural SEK 1 billion Climate Awareness Bond (CAB) today, leveraging the so|bond platform. Notably, the platform employs the Proof of Climate awaReness (PoCR) protocol, a novel blockchain validation logic that not only ensures energy efficiency comparable to non- blockchain systems but also incentivizes participating nodes to continuously enhance the environmental impact of their infrastructures. The first of its kind The European Investment Bank (EIB), a publicly owned international financial institution that has been around since 1958, has issued its first-ever green and SEK-denominated bond using blockchain technology in a June 19 release. The EIB plays a crucial role as a trusted advisor and financier to the European Commission in addressing critical challenges, including climate change and other pressing issues. With its mandate centred around these objectives, the EIB works in close collaboration with the Euro...