‘World Wire’: IBM Launches Stellar-Based Blockchain Payments Platform

Computing giant IBM has launched a blockchain-based financial solution that it says has the potential to completely upend the existing status quo in global payments and remittances.

The new solution called ‘IBM Blockchain World Wire‘ combines the Stellar blockchain with digital assets to make instant money transfers possible of a guaranteed value possible.

In July, CCN reported that IBM backed a dollar-pegged stablecoin issued by Stronghold on the Stellar network. In the same month, IBM announced that it was involved in an environmentally friendly crypto project also built on Stellar.

The new Stellar-based platform describes itself as a “financial rail that can simultaneously clear and settle cross-border payments in near real-time.” According to IBM, World Wire integrates readily with any existing payment system and it supports payments of any size, to any destination, in any asset type within a high-security environment.

Describing World Wire’s potential utility, information from IBM says in part:

“With IBM Blockchain World Wire, clearing and settlement with finality happens in near real-time. The solution uses digital assets to settle transactions — serving as an agreed-upon store of value exchanged between parties — as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”

How it Works

Under the World Wire framework, the transacting financial institutions can use a digital asset of their choice, be it central bank digital currency, crypto or stablecoin as a bridge between two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions for the transaction to be confirmed.

Using a connection to the World Wire API, institutions can use their existing payment systems to seamlessly convert their fiat currencies into the desired digital asset to be traded. The platform then simultaneously converts the digital asset into the second fiat currency (for the receiver), which completes the transaction almost instantaneously.

All transactions are recorded on the Stellar blockchain for security and clearing purposes, and this also helps with regulatory compliance because there is effectively a permanent record of every transaction that takes place using World Wire.

According to IBM, the benefits of the new solution include faster payment processing, simultaneous clearing and settlement, reduced time to dispute resolution and reconciliation and substantially lower clearing costs.

World Wire also reportedly eliminates the presence of multiple parties in a single transaction and it vastly reduces the capital requirements for cross-border transactions. In addition, IBM says that World Wire enhanced end-to-end transparency by using one exchange fee between all currencies, and it potentially reduces the existing time and cost profile of connecting with new markets and revenue flows.

Apart from being the latest of IBM’s well-documented forays into blockchain technology and cryptocurrency, the launch of IBM Blockchain World Wire also underlines the growing influence of Stellar which recently hit a milestone of 1,000,000 accounts.


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Author: David Hundeyin
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Stellar Lumens (XLM) and Bitcoin Boost from IBM Spurs the Crypto Market!

Since IBM announced they are supporting a stable coin affiliated to the USD, there have been a lot of gains in the market but Stellar Lumens (XLM) and Bitcoin (BTC) are the major beneficiaries. The IBM and Stronghold support is now taking shape and the new Stable coin will ride on the Stellar ecosystem.



IBM will make the stablecoin help its clients by monetizing their products and technologies going forward. This will boost bot Stellar and Bitcoin. Since the announcement was made public five days ago, XLM price has gone up by over 50% while Bitcoin has gained 19%. If the boost is anything to write home about, this could be a major breakout for XLM.
Asset Bases Stronghold USD and Stellar XLM

The stronghold USD token asset will be in a ratio of 1:1 in value to the green buck once deployed on the Stella network. To many crypto-sphere analysts, this will add the much needed liquidity in the market going into the future. The beauty of the arrangement is that the tokes will be under the custody of a state backed trust firm.

This arrangement is set to enable financial establishments get secure access to the digital coin arena. According to Sean Bennett, the CTO and co-founder of Stronghold:
“The process for seamlessly managing and trading assets of any form from digital to traditional currencies, needs to evolve as financial institutions are seeking ways to break into new asset classes like cryptocurrencies. Asset-backed tokens can provide seamless access to all currencies, improving the global movement of money.”

However, Jed McCaleb who is Stella co-founder added that the partnership will yield increased adoption and offer XLM a bigger global reach. There is a lot of focus on the Stellar network and the additional trust from IBM will turn out to be the best price and value boost that the platform has been missing.

https://www.avinoc.com/tokensale

The introduction neither of Stronghold token is a great step forward nor only for the Stellar ecosystem but the entire crypto verse. The beauty of the deal is that Stellar is not competing with convectional banking outfits but rather complementing them. With widespread adoption, each participant will benefit and the blockchain usability will gain more trust.

Stellar Lumens (XLM) will give IBM the cryptocurrency usability it lacks will the Stronghold USD will provide the stability the tech company needs and cushion it against the volatility of digital assets. Banks and merchants have been shying from crypto adoption and this could turn out to give them the confidence that has been lacking.

With the cryptocurrency market thriving, the usability of XLM will come in handy for IBM to grow its market share. This will in turn change the banking sector focus from Ripple to Stellar, a move that will shake the existing competition between the two blockchain outfits.
“The digitization of real-world assets using blockchain can dramatically transform many forms of financial transactions conducted around the world. “New types of fiat-backed instruments, like Stronghold’s USD, have the potential to improve the backbone of international banking operations and payments’, giving banks an easier way to integrate with public blockchain networks without significant changes to their core banking and compliance infrastructure”, adds Jesse Lund, blockchain president at IBM.

Stellar Lumens seems to be basking on the limelight and still trading in the green for the last 24 hours and this could continue towards the end of the year. Many investors appear to be flooding to stake on XLM and this could mean a stable price and increased value.

At the time of reporting, the Stellar Lumens (XLM) was trading at $0.294921 after marginally gaining against the dollar and Bitcoin by 3.63% and 2.22% respectively. Bitcoin on the other hand is also trading on the green just shy of the $7,500 mark since the announcement and the ripple effect is being felt across the entire market.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Cami Albert
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Stellar Lumens [XLM] now has a universal marketplace called StellarX

StellarX, is a shared universal marketplace based on Stellar. StellarX is free, quick and it rundowns each feature of seamless exchanges be it crypto, fiat, bonds or commodities.
StellarX allows its users to live the inter-chain dream of swapping municipal bonds for XLM while the transactions are settled in seconds. The platform permits its users to trade directly from their own wallet, and one can deposit or redeem off-chain assets.



StellarX is built on the open Stellar order book, which indicates that exchanges, miners or any individual cannot take a share from the transactions held. StellarX is a fully peer-to-peer and trader-to-trader based platform.

Since Stellar network fees are low, it is completely free to trade on StellarX considering the minimal transactional fee is refunded by the team of StellarX to its traders. Stellar’s automatic 1% APR inflation is also offered to the users by StellarX. Which results in no weekly airdrops being signed to them; rather the users who sign up on StellarX get a pro-rata XLM on every Tuesday.

StellarX on their official Medium announcement have said:
“Since StellarX is the first complete client for Stellar, we support every last token issued to the network, all 2500+ of them, including dankness like eQuid (GBP tether or digital cephalopod, who can say?) and something calling itself “charna token”.”

Recently, the blockchain based phone network, YOVO which is completely built on the Stellar network announced to be relocated to Malta, where they plan to take their project ahead, making the usage of XLM’s network broader.

Stellar lumens has been and still is a part of some major, revolutionary projects. One such project is its collaboration with IBM.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Simran Alphonso
Image Credit: Pixabay

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