IBM Digital Currency Chief Says They Are Leading in Blockchain Technology
IBM’s Jesse Lund, who heads the blockchain division, claims IBM is the leader in blockchain technology.
In a recent interview, Lund stated:
What IBM’s been doing as the leader in blockchain technology for the last three years is adding security and confidence to the system.
IBM And Stellar Partnership Challenge xRapid
Lund talks about IBM’s cross-border payments solution, which in part uses Stellar Lumens for settlement, and how one of the oldest technology companies in the world plans to revolutionize the remittance market. The solutions developed are challenging Ripple’s xRapid product for adoption, but all the products will have to work together to create a global and harmonious system.
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He explains:
We’re building on a new idea, which is to be able to store monetary value electronically and be able to move that value around the world in real time… I think the problem with cross-border payments today, the inefficiencies are based on the fact that the way that banks communicate, the network that banks communicate on is separate from the network or the rails that money actually...
Top 8 Women Entrepreneurs In Cryptocurrency
Nowadays, cryptocurrency and the blockchain is on the minds of many entrepreneurs and investors across the globe.
Cryptocurrencies came into existence in the year 2009 with the creation of the blockchain as a secure decentralized distributed ledger to serve as the public transaction ledger of the world's first cryptocurrency Bitcoin, that was conceived and presented by a pseudonymous individual or organization called Satoshi Nakamoto.
The blockchain that enables the building of digital assets is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.
Cryptocurrency can be described as digital money that people can use as a medium of exchange without the restriction of borders or any central control.
This digital currency system is decentralized, yet highly secure as it uses the state of the art blockchain cryptography. The term decentralized implies that cryptocurrencies don’t rely on any centralized bank or monetary system to exist.
Furthermore, its digital nature enables users to buy things or to exchange it to and from anywhere across the globe without the worry of any kind of interruption from the banks.
The currency is operated and maintained by the network of users [cryptocurrency miners] instead of any central body.
The mining process is complex but it’s essential to understand that there is a limit to how much cryptocurrency can be created and there is currently no way to exceed that limit. Making it impossible to devalue cryptocurrency as it’s possible to do for paper dollars by banks or governments printing more paper currency.
There are 1500 plus different cryptocurrencies in the crypto market like Bitcoin, Ethereum and Litecoin which all have their own distinct properties and characteristics but they all follow some of the most basic cryptocurrency principle.
The bitcoin design has inspired a new significant global digital transformation layer, and opportunity for female entrepreneurs to develop applications, and blockchains which are readable by the public, and widely used by cryptocurrencies. Here is a list of the top women who are leading the cryptocurrency startup economy including Joyce Kim, Perianne Boring, Amber Baldet, Jinglan Wang, Jen Greyson, Fahima Anwar, Meltom Demirors, Raine Revere.
Binance Adds USDC Trading Pairs – Ripple (XRP) and stellar (XLM) to have USD Pairs
Binance announced Friday that it would be adding a few new USD Coin pairs and moving its two existing USDC pairs into the combined stablecoin market called USDⓈ. Both ripple (XRP) and stellar (XLM) will have USD Coin pairs, in addition to their existing stablecoin pairs. The move involves the cancelling of any trades that exist in the current two USDC markets: BTC/USDC and USDC/BNB at the time of the move, essentially wiping the slate and creating fresh markets for the stablecoin.
The pairs being created with USDC are: BNB, BTC, ETH, XRP, EOS, XLM, and USDT. All of these will now be accessed through the USDⓈ asset market tab. They will no longer be in the regular coin exchange of Binance. It has BTC and ether as its primary base trading tokens.
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Binance was clear on their warning about existing trades in tangential markets:
“Please note: The existing USDC/BNB and USDC/BTC trading pairs will be removed and delisted at 2018/12/16 03:00 AM (UTC). All existing orders in each order book will also be canceled at this time.”
The new markets were already showing in the advanced exchange...
IBM Debuts 'Blockchain World Wire' Payments System Powered by Stellar
Every quarter we are seeing more Fortune 500 companies making headway into the blockchain with patents and beta testing.
IBM is taking its long-in-the-works blockchain-based payment system out of beta, with the launch of a new product called Blockchain World Wire.
Aimed at institutions and harnessing the stellar blockchain network, Big Blue says its new financial rail "can simultaneously clear and settle cross-border payments in near real-time."
Similar to other blockchain-based payment networks such as Ripple, World Wire attempts to do away with banking intermediaries that add complexity and cost to the traditional international payments systems.
According to a document provided by IBM, the product works by substituting the banking intermediaries normally needed for cross-border payments with digital assets sent over a distributed network.
The company says on its website:
"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions."
Effectively, using World Wire APIs plugged into banks' existing systems, fiat currency is exchanged into a digital asset at bank A. It is then transmitted to bank B, where it is converted into a second fiat currency. "All transaction details are...
Facebook and a Crypto Payments Network
Business Insider reports that Facebook has been talking to an open-source payment-tech company, Stellar, about ways in which FB might use blockchain technology.
The gist of the talks is that FB, which has a blockchain apps team led by David Marcus, wants to push into finance and go head to head with the payment networks of the big banks.
One of the most commonly cited benefits of blockchain over traditional payment processing is … speed. A recent JP Morgan Research Note contrasted a transaction on Ripple, that took took four seconds, with one of a traditional banking system, which took three to five days.
An anonymous Stellar insider apparently told BI that if Facebook does team up with Stellar, “They’d be taking the rug out from under the banks.”
CCN.com goes another step, suggesting that Facebook is planning to fork the public Stellar chain rather than relying on the public Stellar chain, and that it may create its own digital token.