The head of the blockchain-direction IBM Jess Lund in conversation with Cheddar hinted that the promising future development of the technological giant may be focused on banking sector stablon.
According to Lund, “stable coin” will be used for cross-border and interbank payments. The motive for its establishment was to “market demand”, particularly from financial institutions. He also noted that detailed information about the new payment method will appear next week.
“Some global banks see stalking on the basis of national currencies huge prospects for business development”, — said the representative of IBM.
On the question of how the new stablein will be similar to the JPM Coin, Lund said the following:
“It’s not a proprietary coin, unlike the solution from JPMorgan. However, I think what they are doing, has a great importance for them. In our opinion, stabilini should be much more accessible, and the blockchain is the solution to World Wire will help to ensure the interchangeability of digital assets used by financial institutions”
Using the Stellar Protocol universal system Blockchain World Wire allows financial institutions to instantly carry out the clearing and cross-border payments. Among other advantages of IBM platform called transparency, lower costs, increased productivity, simplified form of payment for transactions and a high degree of security.