The government of Palau has launched a blockchain-based savings bonds system, Palau Invest, with support from Japan's Ministry of Economy, Trade and Industry and the Soramitsu blockchain.

Launch of Blockchain System in Palau

Palau has launched a blockchain-based savings bonds prototype system aimed at funding the country's infrastructure projects. Citizens of Palau will be able to purchase bonds through an app on their phones. President Surangel Whipps Jr. stated, "The savings bonds initiative enables us to fund key projects – such as housing, SME development, roads, and other essential services – with capital sourced domestically."

Blockchain Features and Support

The Palau bonds will operate on the Hyperledger Iroha 2 blockchain, on the Sora v3 Hub Chain platform, developed by Soramitsu. The platform is also supported technically and business-wise by Soramitsu. The Polkaswap decentralized exchange operates on the Sora blockchain.

Palau's Other Blockchain Projects

Palau has also partnered with Ripple to launch a US dollar-pegged stablecoin. Alongside Cryptic Labs, Palau developed the Root Name System for its digital residency program based on blockchain technology. This digital residency program was launched on the BNB Chain platform in June 2022.

The Palau Invest project showcases the active implementation of blockchain technology into Palau's financial infrastructure. Supported by international collaboration, this initiative aims to strengthen the country's economic resilience.