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Chris_Reeves

Blockchain World Wide (IBM) A true competitor has arrived

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Posted (edited)

https://www.ibm.com/blockchain/solutions/world-wire

https://seekingalpha.com/news/3443696-ibm-announces-blockchain-world-wide-network

https://www.ibm.com/downloads/cas/YW3W2JPZ

IBM has released their blockchain solution for cross-border payments with a concept similar to xRapid in its use-case.

Edited by Chris_Reeves

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"72 countries, 47 currencies, 44 banking endpoints and more than 1081 unique currency trading pairs. IBM Blockchain World Wire is here."

When did they manage to make partnerships with Exchanges, Market makers and other liquidity providers?

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1 minute ago, ADingoAteMyXRP said:

Uses a STABLECOIN. Nothing to see here.

You need liquidity to go from an untraded illiquid stablecoin to a fiat asset. 

XRP will outperform this in the short term. Longterm? The idea of a stablecoin will be laughable.

It has several different bridge options, quote from website below:

"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions.*"

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1 minute ago, Dario_o said:

"72 countries, 47 currencies, 44 banking endpoints and more than 1081 unique currency trading pairs. IBM Blockchain World Wire is here."

When did they manage to make partnerships with Exchanges, Market makers and other liquidity providers?

Stellar's a non-profit, and historically IBM has had deep banking relationships globally, so everything was done without promotion/hype'til now I guess, but the hype is aimed at FIs, not crypto investors.   I suppose stablecoins will be used domestically and xlm is best suited for international payments, but because of volatility and perceived risk in this nascent fintech industry involving cryptos like stellar, BTC, XRP, etc., it might not take off as much in the short term. 

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2 minutes ago, ADingoAteMyXRP said:

Uses a STABLECOIN. Nothing to see here.

You need liquidity to go from an untraded illiquid stablecoin to a fiat asset. 

XRP will outperform this in the short term. Longterm? The idea of a stablecoin will be laughable.

Read further. Your assumption is incorrect

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Posted (edited)
2 minutes ago, Chris_Reeves said:

Read further. Your assumption is incorrect

"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions.*"

Edited by ADingoAteMyXRP

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I also hate to admit but IBM clearly stated that 

"The network already supports settlement using Stellar Lumens and a U.S. dollar stable coin through IBM's previously-announced collaboration with Stronghold. "

https://newsroom.ibm.com/2019-03-18-IBM-Blockchain-World-Wire-a-New-Global-Payment-Network-to-Support-Payments-and-Foreign-Exchange-in-More-Than-50-Countries

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Guest
Posted (edited)
30 minutes ago, Chris_Reeves said:

Read further. Your assumption is incorrect

I posted this previously and it was incoherently merged into another topic and buried. https://cointelegraph.com/news/secs-senior-advisor-for-digital-assets-valerie-szczepanik-stablecoins-may-be-securities

I believe his assumption is correct basis the stablecoin being backed by an issued asset, cough....

Edited by Guest

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Posted (edited)
7 minutes ago, MDBK said:

I also hate to admit but IBM clearly stated that 

"The network already supports settlement using Stellar Lumens and a U.S. dollar stable coin through IBM's previously-announced collaboration with Stronghold. "

https://newsroom.ibm.com/2019-03-18-IBM-Blockchain-World-Wire-a-New-Global-Payment-Network-to-Support-Payments-and-Foreign-Exchange-in-More-Than-50-Countries

Walled garden. Smart phone.

Edited by Guest
Smart phone

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I love that there are other businesses validating the xRapid use case.

But to be clear, IBM is not pushing Lumens here. They're pushing a stablecoin they built in partnership with Stellar and Stronghold. Do they permit customers to transact with Lumens? Looks like it. But from early on their focus has been on a stablecoin. They're missing the point.

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Stronghold even ditched some of their xlm pairs (XLM/BTC) because of no liquidity. Tell me again how xlm will become a true global bridge asset. IBM alone is not enough.

17 minutes ago, Dario_o said:

"72 countries, 47 currencies, 44 banking endpoints and more than 1081 unique currency trading pairs. IBM Blockchain World Wire is here."

When did they manage to make partnerships with Exchanges, Market makers and other liquidity providers?

Exactly

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2 minutes ago, ADingoAteMyXRP said:

I love that there are other businesses validating the xRapid use case.

But to be clear, IBM is not pushing Lumens here. They're pushing a stablecoin they built in partnership with Stellar and Stronghold. Do they permit customers to transact with Lumens? Looks like it. But from early on their focus has been on a stablecoin. They're missing the point.

I dont think that IBM wants to push a coin where the founders hold 80% in an unesrowed account.

I also believe that IBM right now cant compete with Ripple to be honest, thats why they are pursuing a different use case

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Maybe Jed is using the stablecoins within World Wire as a trojan horse for XLM? I mean if World Wire will manage to get dozens of large banks to issue their stablecoins AND Jed will have secret pact with IBM that XLM will be the only permissionless digital asset in the network for the next X years then it would encourage the banks to start settling with XLM because there are not any other alternative in the network. Jed could give away or sell with discount XLMs to the banks. Jed is dangerous and his potential should not be underestimated.

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