IBM (NYSE:IBM) has recently announced the Blockchain World Wire, a new payments system that relies on the Stellar blockchain. The US tech giant is planning to present its system to banking representatives and other parties attending the Sibos conference in Sydney. The event is organized by SWIFT in late October.
IBM’s payments solution aims to offer banks a method to clear and settle cross-border payments within seconds. Thus, Blockchain World Wire might compete with the traditional Swift payment system and Ripple’s blockchain-based xRapid transaction solution.
The new product developed by IBM and Stellar will allow the exchange from fiat currencies to...
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