The results of the tests and prototypes will be published in the fourth quarter of 2021.
The Bank for International Settlements is having its Hong Kong innovation hub starting its first green finance project, Genesis.
While green finance has been under development for years, this project intends to use tokenize green bonds to enable real-time tracking of environmental outputs.
BIS has formed a consortium with six partner companies that will design the digital infrastructure for the Genesis project.
Digital Asset (Switzerland) and GFT Technologies Hong Kong will deploy multiple permissioned blockchains to target the full bond lifecycle.
The Liberty Consortium – consisting of SC Ventures, Standard Chartered Bank, and Shareable Asset – will use a public permissionless blockchain infrastructure.
Allinfra, a Hong Kong SAR startup, will provide technology verified data that can track in real-time the positive environmental impact of projects.
The development teams have moved from design thinking workshops to iterative sprints in order to build the prototypes. The results of the tests and prototypes will be published in the fourth quarter of 2021.
Bénédicte Nolens, head of the BIS Innovation Hub Hong Kong Centre, commented: “Our vision is that you can download an app to your phone, and invest