More and more people, organizations, businesses, and governments are beginning to see the amazing benefits digital currencies and blockchain technology have to offer. As more people and entities begin to see these benefits, the adoption of digital currencies and their underlying technology continues to increase.
Digital currencies have seen quite a handful of adoption over the years, and this has made them more popular and also increased their values.
Recently, the government of Australia also discovered how they can also benefit greatly from blockchain technology, and they have decided to adopt the blockchain of Ethereum (ETH) to solve one of their major problems.
Australian Government Want to Work out Its Debt Issue with Ethereum Blockchain
The government of Austria has a bigger debt issue, and they want to raise 1.15 billion euros in an auction next week. To do this, the government want to issue a bond on the blockchain of Ethereum (ETH), this would increase efficiency and reduce costs.
The government would be issuing two bonds, the first bond will mature in five years while the second will mature in ten years. The ten-year bond will yield an interest of 0.78 percent, and investors would only be able to collect it after ten years. The debt will be recorded on the blockchain but it is not tradable.
For those that are not familiar with this space, government bonds are just like Initial Coin Offerings. The difference is that for ICOs, startups offer promises of innovative technology, while governments sell bonds with promises of being able to collect taxes from its citizens.
Ethereum (ETH) Price Today – ETH / USD
The value of Ethereum (ETH) hasn’t been at its best performance over the past weeks, as its position is currently being threatened by XRP (XRP). At the time of writing, the digital currency is changing hands at $231 after an increase of about 6.6 percent over the past twenty-four hours. The current market cap of Ethereum (ETH) is $23.69 billion and its trading volume over the past twenty-four hours is $2.18 billion.