Tel Aviv Stock Exchange & Israeli Ministry Of Finance Complete Blockchain Project

Project Eden's successful PoC heralds a new era in finance. Harnessing blockchain, the Tel Aviv Stock Exchange & Israel's Ministry of Finance seek to transform risk management and efficiency in capital markets.

Tel Aviv Stock Exchange & Israeli Ministry Of Finance Complete Blockchain Project

In a pioneering initiative, the Tel Aviv Stock Exchange (TASE) and the Israeli Ministry of Finance have successfully wrapped up the Proof of Concept (PoC) phase of Project Eden. The project demonstrates the potential of Distributed Ledger Technology (DLT), smart contracts, and tokenization in optimizing financial markets.

Project Eden utilized blockchain infrastructure for issuing and settling digital government bonds. The highlight of the project was the issuance of a dummy digital bond on a blockchain platform during a live event, marking a significant step in the settlement and issuance processes in the capital markets.

Team behind the pilot project
POC Team (Photo: Liat Mendel)

The project also introduced a digital Payment Token, representing the Israeli Shekel within the Eden ecosystem. During the live event, funds were transferred securely through digital accounts, setting the stage for the potential inclusion of central bank digital currencies (CBDCs) in the future.

The settlement process transformed the traditional securities settlement process using TASE Bond Management smart contracts. These acted as intermediaries, ensuring the verification of tokens and guaranteeing accurate transfers.

With Project Eden, TASE and the Ministry of Finance have showcased the potential of DLT and tokenization in enhancing efficiency, reducing risks, and creating new opportunities for investors, thereby heralding a new era in the traditional financial markets. This project sets a strong foundation for further advancements in the financial industry, endorsing Israel's technological leadership in the capital market's digital transformation.

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