World Bank logo by ChuckTBaker on WIKIMEDIA COMMONS

The World Bank is taking a step into the brave new world of digital finance to sell the first-ever bond to be issued entirely using blockchain technology, the bank announced Friday.

More than just funds, the World Bank aims to gain experience using blockchain -- a digital public registry of transactions -- that could lead to “a golden future” for financial services for developing nations, a bank official told AFP.

The technology is most often associated with cryptocurrencies -- like bitcoin -- which often raise suspicion about their reliability and volatility, as well as their use for criminal purposes.

But because there as yet is no central bank-backed digital currency in existence, the two-year blockchain bond will rely on real-world money: Australian dollars.

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