IBM getting ready to work on Stellar-Blockchain powered World Wire
- IBM is hiring staff to work on their World Wire, which is powered by the Stellar blockchain.
- World Wire is a blockchain based payment system which will be a stiff competitor to xRapid and SWIFT.
IBM is hiring an Offering Manager for its Blockchain Financial Services Solutions department to work with the Stellar-Blockchain powered World Wire. The functions of this new team member will be as follows:
“This role will assist in providing Offering Management expertise in allowing IBM Blockchain Financial Solutions clients, who do cross border payments, to avail themselves of a transformational method to initiate their payments. The Stellar blockchain ledger is used as the system of record for settlement of financial transactions between counter-parties on the World Wire network”
The World Wire is a near-instant, blockchain-based payment settlement system. It will act as the main competitor to xRapid and SWIFT. XLM, the Stellar tokens, will fuel World Wire. IBM’s website sheds further light on how World Wire will work:
“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.”
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FXStreet Team
FXStreet
