Belgium’s KBC Bank has revamped its Bolero crowdfunding offering using blockchain. Bolero isn’t your typical crowdfunding platform where you get rewards or invest in equity. It’s more of a crowd lending platform with SME bonds as the primary investing tool. Smaller to medium sized firms raise anything from a few hundred thousand to a few million euros. Going forward, these bonds will be tokenized bonds. However, it all happens behind the scenes and KBC doesn’t make a fuss about blockchain on the customer facing website.
Frankly, that’s as it should be. Blockchain is about the plumbing. For smaller bond issuances like those on Bolero, blockchain can bring efficiencies. In this case, smart contracts look after the fundraising, interest payments and principal repayment. Additionally, the bond and the cash are blockchain-based, so it supports atomic settlement.
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