While there's a lot of hype about Ripple's conference, Swell in Toronto, it's younger brother Stellar Lumens who's having a similar conference Sibos in Toronto has already started making some news.
IBM has anounced a partnership with Stellar and KlickEx Group at the Sibo conference in Toronto. Quoting from #IBM official website:
IBM Today announced a new blockchain banking solution that will help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers. Using IBM Blockchain, and in collaboration with technology partners Stellar.org and KlickEx Group, the solution is intended to improve the speed in which banks both clear and settle payment transactions on a single network in near real time.
This is a huge leap when it comes to big organizations giving support and embracing cryptocurrencies and blockchains.
“With the guidance of some of the world’s leading financial institutions, IBM is working to explore new ways to make payment networks more efficient and transparent so that banking can happen in real-time, even in the most remote parts of the world,”
said Bridget van Kralingen, Senior Vice President of IBM Industry Platforms.
IBM aims to irradiate trade barriers and intermediates, This means farmer in Samoa and have easily come into trade with someone in Russia. The block-chain easily settles the trade formalities and makes it matter of minutes to execute a trade.
Looking from the Stellar point of view, we saw a sudden surge in #Stellar[#XLM] price action which is because of this news coming in.
Could Stellar be the next #Ripple ? We have to wait and watch.
