Project Promissa: blockchain for multilateral development

Project Promissa is a collaboration between the Bank for International Settlements’ Innovation Hub, the Swiss National Bank, and the World Bank focused on tokenising promissory notes for multilateral development banks.

• Developed a proof-of-concept (PoC) platform using distributed ledger technology (DLT) to replace paper-based promissory notes.
• The DLT platform aims to automate lifecycle processes of the notes from issuance to payment and archiving, reducing manual processes and costs.
• Participants included multiple countries and observers like the International Monetary Fund, with a final report confirming technical feasibility.
• The project supports transparency, trust, and scale in development finance but requires more work for full operationalization.