Tel Aviv Stock Exchange completes proof of concept to tokenize fiat and bonds
In its proof of concept, TASE minted the first ERC-1155 security token representing a dummy digital government bond. A new phase in the Tel Aviv Stock Exchange's integration of blockchain technology and traditional assets has been completed with 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 (PoC) 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. According to a June 6 blog post, the initiative's go-...