IBM today revealed the results of a partnership with Stellar, which is a company that specializes in the trade of crypto-currencies. While the company is currently limited to payments involving $ Fijians, and in british pounds, she nevertheless accepts other currencies like the australian dollar, the new zealand dollar. A new solution was put in place, incorporating technology Lumen.
While the solutions blockchain from IBM are designed to handle a large part of the transactions, the actual settlement will be made using the digital currency Stellar. In this case, the solution of Stellar will exchange almost instant.
A true breakthrough for Stellar
The announcement of this partnership is a great victory for Stellar, which is largely focused on its own technologies Blockchain. Moreover, it is also proof of the extent of collaboration between firms specializing in crypto-currencies and the world of finance.
Patrick from Garbsen, Germany, Wikimedia Commons
For the realization of this project, IBM has enlisted the help of partners such as Wizdraw, TD Bank and National Australia Bank. The company is also supported by the APFII, an organization of financial institutions founded by the United Nations. This collaboration will allow the development of technology blockchain from other financial institutions. This solution is already integrated in the financial management system of IBM.
While the launch of this project took place since last week, the CEO of ClickEx, Robert Bell, said that it was too early to provide figures on the volume of transactions. But it expects that 60 % of transactions are processed via this technology. It is also planning to integrate seven new currencies.
Bell said the technology blockchain is the first to be used to facilitate online payments. IBM also believes that this system will allow the scanning of the currency by central banks around the world.
Source : CoinDesk