The largest IT company IBM this week started beta testing its own payment system on the blockchain World Wire.
World Wire built into the Stellar Protocol and allows you to use any digital currency for international payments between banks in real time. Work on the establishment of a system for payments in the blockchain IBM and Stellar began in October last year, and at the end of August first announced its launch.
“The service uses digital assets to settle the transaction conducted for exchanging values between the parties, and also allows you to see payment instructions”, — explained in the updated description of the platform on the company website, “All this means that now the funds can be transferred with much lower costs of time and money than traditional correspondent accounts.”
In July, IBM supported the new project stablein based on Stellar called Stronghold USD. As is clear from the name, the cryptocurrency provided by the us dollar in the ratio 1:1. This is the first in the world stablein on Stellar. IBM, as the holder of the token Stronghold USD started to test the cryptocurrency on the platform of World Wire. The company considers this project as an opportunity to optimize the payment system.
“…it’s the way to bring financial regulation in the business system which we have developed”, — said the head of the blockchain and cryptocurrency in IBM Jesse Lund (Jesse Lund).
Late last month IBM was also included in the consortium established by the Australian Commonwealth scientific and industrial research (CSIRO) to develop a cross-sector platform for businesses that uses smart contracts.
