Project Genesis: a green bond tokenization platform in Hong Kong
A pioneering digital platform for retail green bond issuance
A green bond issuance platform that meticulously tracks green bond proceeds. In addition to offering greater transparency and traceability, it also strengthens corporate responsibility surrounding green finance initiatives – effectively hampering greenwashing.
Align financial processes with environmental goals
Gain 100% transparency regarding green bonds issuance
Third-party integration: Octopus electronic payment system
Challenge
Challenge
Showcase the value of DLT interoperability in a retail application
- Despite significant growth in green bonds, key industry stakeholders seek greater transparency when delivering ESG covenants to regulatory bodies and investors.
- GFT and Digital Asset partnered with the Bank of International Settlements to create a retail bond issuance platform, launching Project Genesis at Hong Kong Fintech Week 2021.
Engagement
Engagement
Working with Digital Asset to transform the DLT-based retail bond market in Hong Kong
- GFT and Digital Asset succeeded in developing a platform that streamlines the green bond life cycle for retail investors – spanning issuance, redemption and trading on secondary markets.
- Our solution leverages the power of two key solutions: Digital Asset's Daml , which automates redundant green bond issuance processes; Canton, which ensures interoperability between DLT technologies such as Hyperledger Fabric and Hyperledger Besu.
- Our frontend is coded in ReactJS, a flexible language considered the industry standard that has accelerated our development processes. AWS Cloud platform has been used to host all our backend services and website.
Benefit
Benefit
Streamlining fragmented procedures, enabling immediate throughput processing between participants
- We designed our platform to showcase the retail green bond issuance process and demonstrate how the people of Hong Kong can contribute to a greener and more sustainable future by investing in green bonds.
- GFT and Digital Asset leveraged and adapted the Daml Open Finance library to automate processes, remaining mindful of the local regulatory framework.
- By drawing on Allinfra technologies and important expertise, Project Genesis provides potential solutions to current pain points in the green bond industry such as greenwashing.
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Success story
Project Genesis: a green bond tokenization platform in Hong Kong
Demonstration
Digital Asset and GFT demonstrate how to digitize green bond issuance
Partner
Amazon Web Services
Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform.
Partner
Digital Asset
Digital Asset is a software and services provider that designs and delivers technology to reshape legacy systems and workflows for efficiency and security. Daml is our platform for building multi-party applications.
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