​European banks launch ‘sustainable’ blockchain platform for d | Altcoin Holder

​European banks launch ‘sustainable’ blockchain platform for digital bonds

The platform makes the first use case of a so-called “Proof of Climate” blockchain protocol.

Two banks from Sweden and France announced the launch of a new digital bond platform built on blockchain technology. The platform will enable institutional clients to issue, trade and settle bonds digitally, providing a more efficient and secure process than traditional methods.

The platform is a joint project of Skandinaviska Enskilda Banken (SEB) and Credit Agricole Bank, called “so|bond.“ According to the announcement from April 3, the blockchain network will be using a validation protocol, “Proof of Climate awaReness,” and minimizing its environmental footprint.

The Proof of Climate awaReness protocol is said to enable an energy consumption comparable to non-blockchain systems, and incentivize participating nodes to improve the environmental footprint of their infrastructures.