Posted on 09/19/2018 11:16:21 AM PDT by MarchonDC09122009
‘World Wire’: IBM Launches Stellar-Based Blockchain Payments Platform (Global banking)
https://finance.yahoo.com/news/world-wire-ibm-launches-stellar-224015555.html
September 5, 2018 David Hundeyin
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.
(Excerpt) Read more at finance.yahoo.com ...
[ -> Projects aim for legal identity for everyone <-
ID2020.org, ID4D aim to bring legal, binding, digital IDs to all world’s citizens ]
But it will still be ILLEGAL to ask for ID when voting....
Hmmmmmm
How about Notes type security?
It’s just a reason to bash Lotus Notes.
Sorry, but your explanation is undecipherable.
Almost any teleprocessing computer program can be described that way.
Read your explanation to anyone and ask them to explain what you just told them back.
More likely to be bitcoin or something similar I would imagine. All those other methods are traceable aren't they?
No it’s not. It’s perfectly decipherable. The difference between blockchain and the teleprocessing you’re referring to is scope. Blockchain is specifically designed to be able to handle infinite movements of infinite objects. It is the same core tracking concept that’s been going on since the earliest days of shipping ledgers writ infinitely expandable. It’s a system that allows GM to track every single bolt from manufacture by their supplier through to replacement in a repair years after the car is purchased.
Only reason you think it’s undecipherable is you want it to be. Out here in reality it’s actually very straight forward. It’s a ledger merged with peer-to-peer networking with a touch of cryptography for data integrity. It’s actually in use right now in many places. It is a clearly understandable technology if you’re willing to open your brain. And if you’re not, well then nothing can make sense.
Sure they’re traceable but who cares. It’s security through obscurity. These systems are designed so anybody with the apps can trade money. Some of the apps even cross platform. According to Apple their Pay system runs nearly 11 million transactions a day. And that’s just one of the major apps, then there’s the minors. If the cops have you figured out enough to know to track your Apple Pay transactions they already got you.
“Stellar” is a brand name
Well, people would have little confidence in something branded as ‘Dogshit’
Apparently this is ONLY a transaction framework, INDEPENDANT of the Ponzi-based currencies it might be performing transactions for.
They will track you with artificial intelligence and it will be done with the same biases that google has already established.
But again security through obscurity. There’s lots and lots of people doing lots and lots of transactions. Part of the advertising of those things. Sell stuff anywhere any time. Have a yard sale, go to yard sales, sell your foam finger at the stadium. Most of these transactions are person to person. And really, nobody wants to put that much work into busting street dealers, they only get busted when they’re too obvious and the cops feel insulted, or when the cops are working the chain to try to hit the big guy.
I don't think anyone is too concerned by a few dollars gleaned at a yard sale, they are thinking of pallets of 100's that cartels seem to be able to amass.
Truth is our politicians are for sale and so are the courts and banks, otherwise all this wouldn't be taking place. The laws or lack thereof are exactly what our politicians want otherwise they would change them. Same for tax law as well.
Those pallets are movie stuff now. Drug dealers have always been on the cutting edge of tech. They were early adapters on pagers, cellphone, cash cards and epayment. They have too much at stake.
This stuff is happening because business (legit and not) always wants to move faster. Checks are faster than cash (at least away from the counter). Credit cards are faster than checks. Epayment is faster credit cards. Blockchain will be faster still.
Customers on the street are a cash business and it has to get to the street before there is a profit. I guess those customers will have to get Apple Pay.
No they aren’t. That’s what I’ve explained to you in multiple posts now. It’s 2018. Street transactions, legal and otherwise are now mostly NOT cash. Those days are gone forever, cash is dying in both legal and illegal transactions.
You have declared that Willie and Calhoun use Apple Pay for their daily fix, I just don't believe it.
You were led to water. You choose to remain thirsty. The truth is you are wrong.
So you said, proof would help your case.
Coins will always hold value. Should say old, most made today aren’t worth the sink they are stamped on.
Zinc not sink
Only with collectors. 99% of the population couldn’t tell a valuable coin from a video game token, making them useless for any kind of commerce.
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