Stellar Lumens has a proven network to facilitate technology integrations. Further the validating presence of IBM sure propelled interest of users who have a real use to what the stellar DLT have to offer by making it possible to add enterprise or permissioned capabilities like providing for business rule enforcements for asset issuers and also for processing transactions for their cross border payments solution.
In the past, Jesse Lund, VP Blockchain, stated, “IBM’s value-add is the validating and operational presence on the public Stellar network that makes it more attractive for enterprises to deploy assets and solutions on publicly accessible blockchain networks.”
The need to make payments is forever going to be around. IBM are focusing on establishing operational corridors by growing and providing a financial network, which will make low cost, direct, and real-time currency clearing and settlement for every type of payment and value.
Several IBM bank partners are already benefiting from the DLT advantage of moving money around in an advanced way, thus facilitating financial inclusion in developing nations. The IBM are continually making efforts to fully scale their operations across different countries.
Lumens is getting used as a Bridge asset in the process. Eventually, making real time FX for the final settlement of payments.
Sydney Ifergan, the crypto expert, tweeted: “XLM as one of the assets on Stellar Lumens Network is used to pay for transactions on the network providing value and utility.”
While amateurs and skeptics are arguing about whether cryptocurrencies will be useful or not giants and veteran financial institutions are already using and they are set to capture the markets by upgrading their business processes to the newer technologies.
IBM Research have reinstated that Block chains alone cannot ensure the authenticity of physical goods.
Andreas Kind, IBM researcher have already discussed his work on the crypto-anchors. The crypto-anchors will be able to authenticate a product’s origin and content, thus ensuring it matches the blockchain record.
IBM researchers are also working on projects which focus on combating fraud using blockchain and crypto anchors.
The stellar.org content on How to Connect Your Anchor Service to Stellar Wallets have published, “As an issuer of a stable coin on Stellar (aka a fiat anchor), you accept customer funds via local rails, issue Stellar-network tokens representing those deposits, and allow customers to withdraw those tokens via those same rails for money in their pocket or money in the bank.”
By following the Stellar projects and their partners, it is very clear that old players have silently embraced the blockchain technology and are far ahead in the line of adoption. Indeed pioneering adoption.
If you like the article, feel free to send a tip to our writers in XLM token to: GDHL33R5KBQGKYHODR5OCJABPWFKIQESJN4AWIUEPYSKY57QPX6FTAY2 or any other Cryptos via this link.
Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
Get the latest Crypto & Blockchain News in your inbox.
