Reuters writes "KfW uses blockchain for money market issue. The article says, "KfW has issued its first euro commercial paper using distributed ledger technology. The pilot transaction was led by Commerzbank and sold to MEAG, the asset manager of Munich Re and ERGO, as part of a test of the new technology in the sale of money market instruments. Although issued using traditional processes required by regulators, the E100,​000 transaction was simultaneously replicated using blockchain on the R3 Corda platform. The technology, which underpins cryptocurrency bitcoin, creates a decentralised data structure that forms the basis for "​smart contracts", enabling full automation of business transaction processes. The KfW paper, which has a five-​day term, settled without the need for a paying agent or clearing system, allowing immediate posting compared to a standard two-​day settlement period. KfW is a German government-​owned development bank."

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