Topic: IBM launches blockchain based payments, the next disruptor in institutional bank (Read 357 times)
September 08, 2018, 02:08:01 PM
The biggest companies like IBM in the world are adopting Blockchain technology as their important means. And this is the medium of the most modern economic transactions in the world. In that case, hope other companies will be interested in it.
September 08, 2018, 01:53:15 PM
it is very good sign for blockchain technology. because it is expected to not just revolutionize, but to disrupt the cross border payment system. blockchain are more secure and reliable technology.
September 08, 2018, 01:45:47 PM
Since big companies like IBM have taken Blockchain, we can easily guess how bright the future of the blockchain is. Most Institutions are now interested in working with modern technology.
September 08, 2018, 01:40:16 PM
What a good news for cryptopeople that IBM announced the launch of blockchain based payments and beside this, IBM is partnering with Stellar Blockchain. Feeling very good hearing this news.
September 08, 2018, 01:30:14 PM
it is expected to not just revolutionize, but to disrupt the cross border payment system. it is greate for blockchain. it will be perform better and people are interest to increase their trust about blockchain. blockchain are more secure.
September 08, 2018, 01:26:01 PM
Blockchain is the promising technolog which able to produce decentralized service to any comapany. Here IBM will be able to create new ereea with blockchain.
September 08, 2018, 01:22:56 PM
blockchain technology are more secure and reliable. it is more advanced technology at this time. i think it is very good decision for bank. they are now interest to use blockchain technology.
September 08, 2018, 01:07:57 PM
IBM did a excellent job by doing this. It will help the investor and the user. Blockchain technology will more workable and popular by this. This will give great feedback hope so.
September 08, 2018, 01:01:47 PM
This a great news IBM takes a good decision it will do a great help for the user. The investor will be happy with this blockchain is already popular and it will increase after this.
September 08, 2018, 12:57:26 PM
This will be a good journey, though in first heard we most of them are not supporting them. I'm pretty sure next generation will be full blockchain technology based. And the task IMB try to launch is good steps.
September 13, 2018, 04:28:14 AM
This IBM product is still not fully decentralize as both side centralized banks are involved. It's just payment settlement framework within two banks. They are using blockchain to store transactions. But it's good move considering other benefits like Reduced capital requirements for cross-border transactions,Simultaneous clearing and settlement,Lower clearing costs, it will be running 24 /7 etc. I am looking for first real implementation of this framework.
but I think this is a great start for the company to influence other company to adapt the blockchain technology revolution right?
September 09, 2018, 06:41:33 AM
This IBM product is still not fully decentralize as both side centralized banks are involved. It's just payment settlement framework within two banks. They are using blockchain to store transactions. But it's good move considering other benefits like Reduced capital requirements for cross-border transactions,Simultaneous clearing and settlement,Lower clearing costs, it will be running 24 /7 etc. I am looking for first real implementation of this framework.
September 08, 2018, 02:23:32 PM
a fiat currency is converted into the digital asset at the originating bank, this is then transmitted to the receiving bank where the digital asset is exchanged as a different fiat currency.
I find it amusing. These smarty pants are trying to lower the enormous transactions fees between the banks from different countries, but are not willing to let fiat go at the same time! So, they take fiat A, sell it for a crypto, send this crypto to the holder of fiat B and that holder then sells the crypto for fiat B! How sophisticated is that! And yet so weird and stupid. Why use three currencies and three operations when one can use one? It's a nice transitory stage, but I think that it cannot work as a general resolvement of the fiat-crypto rivalries. Adopting blockchain is a good thing, but IMO it should be adopted fully, not as a mediator between two 'real' things. September 08, 2018, 01:55:59 PM
It is a good deal it will provide more involvement of cryptocurrency in the market and it will bring more and more people towards cryptocurrency giving more bright future to cryptocurrency.
September 08, 2018, 01:49:53 PM
That is an incredible news for stellar. With the assistance of the mammoth organization IBM, they will have the capacity to investigate in such a significant number of ways. Teaming up with them will likewise influence other mammoth organizations to approach and the whole market circumstance will be in better place for everybody.
September 08, 2018, 01:29:39 PM
IBM has been around for more than a century. This company has the fastest supercomputer in the world. Big Blue knows what the future is and they’ll be there ahead of everybody.
September 08, 2018, 01:10:02 PM
This year, stated that Big Blue wanted to enable all transactional networks to use blockchain to conclude transactions through a digital fiat currency.
This is great news, almost all recent developments show that crypto money will gain in the near future.
This is great news, almost all recent developments show that crypto money will gain in the near future.
September 08, 2018, 01:08:03 PM
IBM announced the launch of blockchain based payments, partnering with Stellar Blockchain, dispensing with the need for banking intermediaries in institutional transactions. Called the Blockchain World Wire payment network, it offers clearance and settlement of transactions in near real time.
The company’s announcement on its website stated that the product involved the use of a digital asset as a bridge between two fiat currencies, facilitating the settlement. In other words, a fiat currency is converted into the digital asset at the originating bank, this is then transmitted to the receiving bank where the digital asset is exchanged as a different fiat currency. The transactions are performed through distributed ledgers and the transaction details can never be tampered, giving it the stamp of blockchain immutability.
Jesse Lund, Head of Blockchain Services at IBM, had, in July this year, stated that Big Blue wanted to enable all transactional networks to use blockchain to conclude transactions through a digital fiat currency. The launch, which brought the product out of beta, has been the result of efforts of the Armonk company, since October 2017, on the Stellar Blockchain network. The product will be unveiled in October this year at the Sibos Banking Conference in Sydney.
Other similar products now have competition from Big Blue, and many other players who have jumped on the blockchain wagon. With blockchain entering the institutional transactional ecosystem, it is expected to not just revolutionize, but to disrupt the cross border payment system.
The company’s announcement on its website stated that the product involved the use of a digital asset as a bridge between two fiat currencies, facilitating the settlement. In other words, a fiat currency is converted into the digital asset at the originating bank, this is then transmitted to the receiving bank where the digital asset is exchanged as a different fiat currency. The transactions are performed through distributed ledgers and the transaction details can never be tampered, giving it the stamp of blockchain immutability.
Jesse Lund, Head of Blockchain Services at IBM, had, in July this year, stated that Big Blue wanted to enable all transactional networks to use blockchain to conclude transactions through a digital fiat currency. The launch, which brought the product out of beta, has been the result of efforts of the Armonk company, since October 2017, on the Stellar Blockchain network. The product will be unveiled in October this year at the Sibos Banking Conference in Sydney.
Other similar products now have competition from Big Blue, and many other players who have jumped on the blockchain wagon. With blockchain entering the institutional transactional ecosystem, it is expected to not just revolutionize, but to disrupt the cross border payment system.
that is definitely the future of blockchain applications, one of many. Settlements are large part of the transactions worldwide, it's good to have IBM on board, just shows that also large players take blockchain very seriously.
September 08, 2018, 12:40:27 PM
That's a great news for stellar. With the help of the giant company IBM, they will be able to explore in so many ways. Collaborating with them will also make other giant companies come forward and the entire market situation will be in better place for everyone.
September 08, 2018, 12:31:06 PM
If the crypto market wants to revolutionize then it will surely need participation of big companies or service providers like IBM. Because this market is so huge that small initiatives cannot bring a great chance
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