Topic: IBM working with US Federal banks to develop digital currency - page 3. (Read 2366 times)
September 30, 2015, 10:08:25 AM
Making a new digital currency is absolutely meaningless to compare with bitcoin. Any government or bank creates a new digital currency that fall again into centralization. Again controlled by a third party. So, bitcoin is the only solution for all the people around the world to get a real meaning of money.
September 30, 2015, 07:24:56 AM
http://recode.net/2015/03/13/exclusive-ibm-looking-at-adopting-bitcoin-technology-for-major-currencies/
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
I think there are more working to develop digital currency not just the IBM.
I think IOC and other banks they making it happen to make the future to be more convenient.
September 30, 2015, 06:37:12 AM
It was a wonderful thing for the american economy, I think, if this news will be verified. Having The United States as money (or something like that), a currency based at the same technology like that from which is created bitcoin, it will be a great benefit for all. The qualities of such product are to many. Remain to see if this kind of money will replace us dollar (not now but in the future) or will be used besides it. According to the news at the main post will be something that will replace the us dollar in various transactions but in the future the idea and the use of this "new tool" can advance and replace the us dollar.
In this way the Unite States will have a new money. A money based at the technology of bitcoin. Which will be like bitcoin. Only that will be not currency of the world as it is bitcoin by centralized and owned by Federal Reserve.
Anyhow the introduction and the real use of this new thing implies to many interrogations if it will be used as a new currency. It will be totally new, will have new (money) characteristics and needed new monetary policies to be used with it. I like this news and I am very curious if it is true and when (and if) will be verified practically. I think that if this new currency will be introduced in the United States will reinforce its economy.
In this way the Unite States will have a new money. A money based at the technology of bitcoin. Which will be like bitcoin. Only that will be not currency of the world as it is bitcoin by centralized and owned by Federal Reserve.
Anyhow the introduction and the real use of this new thing implies to many interrogations if it will be used as a new currency. It will be totally new, will have new (money) characteristics and needed new monetary policies to be used with it. I like this news and I am very curious if it is true and when (and if) will be verified practically. I think that if this new currency will be introduced in the United States will reinforce its economy.
As predicted, they will try to develop their own bastardized version of Bitcoin, open closed and centralized. How dumb is that if you think about it. One of the main reasons Bitcoin is cool is the decentralization of it.
I hope that once this goes mainstream people see the scam that the goverment is trying to come up with and the migrate into BTC.
I hope that once this goes mainstream people see the scam that the goverment is trying to come up with and the migrate into BTC.
I think there will be more companies trying to develop their own digital currency's. Some are probably doing it right now without even telling media about it. In the future wealthy countries will use only digital currency's, but how many of those currencies will remain on the market we will see.
Not only IBM , other big companies are rooting towards the blockchain like technology . Since there is no government involved in it , and free of any transaction fee. And the technology is kind of user friendly , without any authorities involved. The digital technology is growing rapidly and companies need to be at pace with it.
http://recode.net/2015/03/13/exclusive-ibm-looking-at-adopting-bitcoin-technology-for-major-currencies/
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
Could be, Because look that IBM almost always has been focused to corporations in the last years.I could bet that not only IBM but others Big Companies of computer industry are watching it type of blockchain technology and they will include it or any part of this on theirs projects.
http://recode.net/2015/03/13/exclusive-ibm-looking-at-adopting-bitcoin-technology-for-major-currencies/
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
I just read that IBM is developing blockchain-similar/copied technology and working with the US Federal Reserve banks to organize a centralized version of bitcoin. Have you all read this yet? Sorry if I'm rehashing old news - the article is dated end of May but I don't recall a discussion here.
------
International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.
The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.
The blockchain — a ledger, or list, of all of a digital currency’s transactions — is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.
Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.
The proposed digital currency system would work in a similar way.
“When somebody wants to transact in the system, instead of you trying to acquire a bitcoin, you simply say, here are some U.S. dollars,” the source said. “It’s sort of a bitcoin but without the bitcoin.”
Jump to: