The choice of Stellar is a bit surprising given that IBM has been working with the Linux Foundation on Hyperledger Fabric for years. But Hyperledger Fabric is permissioned, private distributed-ledger technology. IBM wanted something more open that any organization could join if it met certain criteria. In World Wire, IBM has created kind of a virtual private network within Stellar. Organizations can register assets and become part of the network, but IBM carefully vets each participant and validator. By contrast, Ripple says it does not know who runs the validator nodes on its distributed ledger. It's really about knowing the validators, but without creating this walled garden that you have to have special permission to join.
To help government units and healthcare organizations discover non-traditional suppliers who have changed course to address the shortage of supplies needed for COVID-19 relief efforts, IBM unveiled a blockchain-based network called IBM Rapid Supplier Connect.
IBM said at least two major U.S. banks are considering whether to follow JPMorgan Chase & Co.'s lead in issuing a stablecoin. IBM said it is also working with six non-U.S. banks on digital currencies, including BNK Financial Group Inc.'s Busan Bank in South Korea, and in the Philippines, Rizal Commercial Banking Corp., which is expected to issue a stablecoin in the second quarter. The banks are awaiting approvals from regulators.
IBM, in partnership with four Australian financial services companies, has launched an eight-week pilot for a blockchain-powered platform designed to streamline bank guarantee process. Lygon is a blockchain-based platform that digitizes the issuance and management of bank guarantees in the retail property lease sector. Per the release, digitizing the process will reduce the risk of fraud, decrease potential of errors, as well as increase transparency and security.
IBM is upgrading its enterprise Blockchain Platform to carry over changes in Hyperledger Fabric 2.0 (its base layer) that will improve performance and data privacy, and allow transaction parties to propose and amend smart contract parameters.
According to IBM, World Wire is the first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified platform. Participants are also allowed to dynamically choose from a variety of digital assets for settlement. Currently, World Wire has enabled payment locations in 72 countries, with 48 currencies and 44 banking endpoints.
IBM World wire focuses on the cross-border payments market with enabled payment locations in 72 countries, 48 currencies and 44 banking endpoints. It supports Stellar Lumens and a USD based stablecoin - thanks to their work with Stronghold. The network will also support stablecoins issued by several of its consortium banks.
Six international banks have signed letters of intent to issue fiat-backed stablecoins on World Wire, an IBM payment network that uses the Stellar public blockchain. The network promises to let regulated institutions move value across borders more quickly and cheaply than the legacy correspondent banking system.
IBM, in partnership with four Australian financial services companies, has launched an eight-week pilot for a blockchain-powered platform designed to streamline bank guarantee process. Lygon is a blockchain-based platform that digitizes the issuance and management of bank guarantees in the retail property lease sector. Per the release, digitizing the process will reduce the risk of fraud, decrease potential of errors, as well as increase transparency and security.
IBM has doubled the number of its employees on the technical steering committee (TSC) of Hyperledger, stoking concerns about the tech giant's influence on the enterprise blockchain consortium.
CIP, a facilitator of Brazilian banking and financial infrastructure, has officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric.
The Bank of Thailand reportedly launched the world's first blockchain-based government savings bond issuance platform using IBM's blockchain technology. Within two weeks of the launch, the central bank sold more than $1.6 billion worth of savings bonds. The use of blockchain technology is said to have reduced the bond issuance time from 15 days to just two days. The increased efficiency of the process has also reduced operational cost and redundant validation of documents involved in bond issuance. https://www.prnewswire.com/news-releases/bank-of-thailand-launches-worlds-first-government-savings-bond-on-ibm-blockchain-technology-301145253.html
"United States technology company IBM and Danish logistics firm Maersk have decided to discontinue their co-developed blockchain-backed supply chain platform, TradeLens, citing a lack of "global industry collaboration" as a key reason behind the decision."
A number of central banks around the world are seriously considering issuing retail central bank digital currency, with one likely to arrive in the next five years. That is the key finding from a report from IBM and OMFIF, a central banking think tank.
The ECCB CBDC pilot involves a digital version of the EC dollar (DXCD) distributed by licensed ECCU financial institutions. The DXCD will be used for transactions between consumers and merchants, between people, all using smart devices. IBM Hyperledger Fabric was selected as the blockchain platform.
IBM and Microsoft have released new technologies focus on tackling the challenge of identity on permissioned and public blockchains respectively. The approaches are different but they give us a glimpse of how innovation is evolving in this space.
Brazilian banks will be implementing a new standardized blockchain identity solution co-developed by IBM and the central bank, CIP. It is reportedly to be integrated into the Brazilian Payment System.
The ITW Global Leaders' Forum (GLF), which is a network of leaders from the world's largest wholesale carriers, announced Monday the launch of a blockchain-based platform. Known as the Communications Blockchain Network (CBN), this will revolutionize the ICT Service Provider industry's commercial settlement infrastructure, representing an opportunity worth billions to the global industry.
The Japan-based Ocean Network Express and Germany-based Hapag-Lloyd will join the TradeLens platform launched by Danish logistics conglomerate A.P. Moller-Maersk and tech behemoth IBM.
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