HOLY S***
http://fortune.com/2017/10/16/ibm-blockchain-stellar/IBM and Stellar Are Launching Blockchain Banking Across Multiple Countries
The significance of the news, which IBM announced on Monday, is that merchants and consumers will be able to send money to another country in near real-time, accelerating a payments process that typically takes days.
The banking network includes “12 currency corridors” that encompass Australia and New Zealand, as well as smaller countries like Fiji and Tonga. It will reportedly process up to 60 percent of all cross-border payments in the South Pacific’s retail foreign exchange corridors by early next year.
The new blockchain banking process is also notable because the
banks will initially rely on a bitcoin-like digital currency, known as Lumens, to facilitate the cross border payments.
Currently, banks arrange such payments by maintaining foreign accounts in a local currency (so-called nostro accounts), and then debiting the accounts as required—a process that is both slow and ties up capital.
Under the new blockchain arrangement,
banks will conduct the transactions using Lumens, and then rely on local market makers to convert the Lumens into local fiat currency. The Lumens are created by a non-profit company called Stellar, founded a Jed McCaleb, a well known figure in the payments and crypto-currency world.
STR will never be under 2cents ever again, then it will break 10cents and 20cents, heading to $1
i just heard big buy walls are coming, and a new ATH is on the way 