Tokenized bonds in Israel shall be?

As it became known, the Israeli Ministry of Finance together with the Tel Aviv Stock Exchange announced the launch of a pilot project for the tokenization of bonds called Eden.
Moreover, other participants, including custodial solutions provider Fireblocks, software developer VMWare and banks, whose names have not been made public at the moment, will also be involved in testing the blockchain platform.
Testing will begin in the very near future and will be completed by early 2023.
What tasks should be solved by the pilot project? So, it is expected to reduce the cost part, to optimize the procedures of issuing and clearing of government bonds, as well as to increase the transparency of processes and reduce risks.

During the trial, participating banks will be given a tokenized series of financial instruments to wallets through the project platform. They will then have to transfer funds in digital currencies to the Israeli government. As for other details of the project, they are not disclosed at this time.
It is worth recalling that last year the European Investment Bank was able to raise 100 million euros through Ethereum bonds.

Meanwhile, in June 2022, El Salvador said the country was not ready to issue bitcoin bonds in the near future. At the same time, the Latin American country intended the first issue of $1 billion by March 15th-20th.

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