Palau introduces digital savings bonds based on blockchain – an innovative step in the countrys development

Palau Launches Savings Bond System Based on Blockchain Technology

Palau, an island country in the Pacific Ocean, has embarked on an innovative initiative in collaboration with Soramitsu and the Japanese Ministry of Economy, Trade, and Industry. The “Palau Invest” project aims to boost domestic investments by introducing a new way of investing in infrastructure projects based on blockchain technology.

Technological Solution

The savings bond system was developed in collaboration with the Japanese company Soramitsu and the Ministry of Economy, Trade, and Industry of Japan. The program is built on the advanced Hyperledger Iroha 2 network and SORA v3 Hub Chain, as part of the “Future Global Cooperation with Global South Countries” project of Japan’s METI.

Initiative Goals

The funds raised from digital savings bonds will be allocated to key infrastructure projects such as construction, roads, and public facilities. President of Palau, Surangel Whipps, Jr., emphasized the significance of this initiative, highlighting its potential to stimulate job creation, enhance business opportunities, and develop the country’s economy.

Participation Process

Currently, the “Palau Invest” program is in the phase of public presentation, aiming to familiarize citizens with the savings bond system before its official launch. Once this phase is completed, bonds will be available for purchase through a dedicated mobile application, enabling citizens to invest directly from their smartphones.

It should be noted that while a specific launch date has not been provided, this initiative is already generating significant interest and optimism among the residents of Palau and observers worldwide.

For Soramitsu, this marks another milestone in the field of blockchain technology, following successful financial implementations in the Asia-Pacific region, such as central bank digital currencies in Cambodia and Papua New Guinea.