The Israeli Ministry of Finance and the Tel Aviv Stock Exchange (TASE) announced that they have completed the proof-of-concept phase of “Project Eden,” a blockchain-based digital government bond issuance and settlement project. The project is a unique project led by TASE in close collaboration with the Israeli Ministry of Finance.
The Israeli Ministry of Finance minted the first digital government bond ERC-1155 security token on a blockchain platform using a DApp developed specifically for the project’s proof of concept. The blockchain used in this PoC is compatible with the EVM and may be integrated with other blockchain solutions in the future.
In addition, "Project Eden" also introduced digital payment tokens as the basic settlement component. The settlement process is completed through a dedicated TASE bond management smart contract and the use of "Atomic Settlement" between security tokens and payment tokens. (PR Newswire)