As the local magazine informs, the Austrian government plans to use Public Blockchain Ethereum to issue government bonds worth 1.15 billion euros next week. Oesterreichische Kontrollbank (OeKB), one of the largest banks in Austria, is said to be serving the not-for-profit blockchain service operating "live". During the auction scheduled for October 2, the bank will issue bonds on behalf of the Austrian Ministry of the Treasury (OeBFA). "By establishing the FinTech Advisory Council at the Ministry of Finance, we develop strategies that enable Austria to make the most of these changes," Hartwig Loger, Minister of Finance of Austria, said.
OeKB claims that this will be the first time that the Blockchain notary service will be used as part of the federal auction of bonds in Austria. The procedure that has been successfully tested will be based on a system developed internally by the bank so that it can "authenticate data from the Austrian system (ADAS) as hash values on the public Blockchain Ethereum".
As the magazine points out, the use of Blockchain, in this case, does not go so far as to issue tokenized bonds that would run in parallel with existing paper or digital systems. However, as Markus Stix, managing director at the Austrian Ministry of the Treasury, said, the use of this technology is crucial for security and cost reduction: "This additional security contributes to achieving a high level of confidence in the auction of Austrian government bonds and strengthens Austria's good position in the market, which may also indirectly contribute to obtaining favorable financing costs "- Stix said.
Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has bounced from the level of $6,297 and then broke through the technical resistance zone between the levels of $6,521 - $6,550 and made a new local high at the level of $6,700. The next target for bulls is seen at the level of $6,738, $6,756 and $6,788. Please notice the broken trend line resistance as well around the level of $6,600, this move shows the bulls are getting stronger.
