You can issue retail bonds on retail markets, without using intermediaries.
An investor makes a subscription on web site, after which she receives an invoice by secured email. After having paid the invoice, the system delivers a confirmation letter.
Accrued coupon is included on invoice in case subscription occurs after issue day.
Nominal and coupon repayments can be made by electronic pay orders.
Statutory reports to officials, like witholded taxes and credit flows, can be produces in electronically.