This is good news indeed. IBM does seem to have a lot to offer to the market and at the same time they do have the resources and the capabilities to do it too.
Topic: IBM launches blockchain based payments, the next disruptor in institutional bank - page 2. (Read 325 times)
September 08, 2018, 12:02:59 PM
September 08, 2018, 10:48:54 AM
this is a great news more and more companies will now adapt to the innovation of the bitcoin promoting to everyone in the world and now soon the world will accept the use of bitcoin.
September 08, 2018, 10:13:05 AM
This is the good move made by IBM but still what people don't understand is centralization. Our entire money is in the control of centralized banks. To make it strong IBM is supporting further.
To escape from this we need to adopt Decentralised currency which is not controlled by anyone. Like Bitcoin and ETH.
To escape from this we need to adopt Decentralised currency which is not controlled by anyone. Like Bitcoin and ETH.
that is also the problem even today a lot of us despise xrp for being centralized. centralized simply isn't what we look at the future of crypto which means if IBM intends us to make it useful for the people then perhaps this isn't exactly for us but completely new project that will compete paypal in some sense.
September 08, 2018, 10:09:48 AM
Awesome! I hope this affects bitcoin prices. But I think it will not, maybe a little. Blockchain really has great applications. Now they use the immutable ledger system will it be goodbye to hacks on some bank systems?
September 08, 2018, 10:04:40 AM
This is the good move made by IBM but still what people don't understand is centralization. Our entire money is in the control of centralized banks. To make it strong IBM is supporting further.
To escape from this we need to adopt Decentralised currency which is not controlled by anyone. Like Bitcoin and ETH.
To escape from this we need to adopt Decentralised currency which is not controlled by anyone. Like Bitcoin and ETH.
September 08, 2018, 09:36:06 AM
Entering blockchain in this field might play a part in creating a revolution in this secrtor. IMB has a good reputation in the industry and we do have high hops from it.
September 08, 2018, 08:56:55 AM
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.
This is an awesome news coming from one of the giant of IT industry. This is will surely push more IT firms to think tationally and decide to take advantage of the blockchain tehnology.
September 08, 2018, 08:32:51 AM
Given that IBM used to be the ruling company in the tech inductry, it has had its fare share of ups and downs. But it sseems like they have finally hit the right track with the moves they are making in the crypto market.
September 07, 2018, 04:20:43 PM
Perhaps this could be moved over to Service Discussion?
As for the OP itself, this is a clear manifestation of blockchain's revolution. It could be a great contender against credit cards which, to this day and age, is still very susceptible to spoofing and other tricks for fraud. Employing the blockchain significantly lessens that risk, though the specifics of the said tech from IBM hasn't been conveyed, the idea is unique and can combat fraud from spoofed cards. The question is whether people will support the new tech or just stick sith their cards still.
As for the OP itself, this is a clear manifestation of blockchain's revolution. It could be a great contender against credit cards which, to this day and age, is still very susceptible to spoofing and other tricks for fraud. Employing the blockchain significantly lessens that risk, though the specifics of the said tech from IBM hasn't been conveyed, the idea is unique and can combat fraud from spoofed cards. The question is whether people will support the new tech or just stick sith their cards still.
September 07, 2018, 03:43:49 PM
That's an interesting news. The new solution introduced by IBM, known as "IBM blockchain World wire" will use Stellar blockchain for payments. Instantaneous transactions will be made by combination of stellar blockchain with digital assets.
September 05, 2018, 05:49:51 AM
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.
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