IBM Announced Partnership with Stellar Lumens for Cross-Border Payments Using Cryptocurrency
Announced today at Sibos 2017 conference in Toronto, Canada, IBM has successfully settled real transactions.
Currently, it is limited only to cross-border payments including British pounds and Fijan dollars but is designed to scale to handle seven fiat currencies in the South Pacific including AUD, NZD and Tonga pa'anga.
Howevver, the most distinguishing feature of the project is that it showcases how the use of public and private blockchain technologies in tandem are growing.
IBM's private blockchain solutions are designed to perform much of the process around transaction clearing while Stellar's blockchain will settle real transactions using lumens.
Stellar Lumens will serve as the digital bridge for fiat currencies enabling nearly instant exchange without the need of the buyer or consumer ever touching the cryptocurrency itself.
Russia to Issue Its Own Official Cryptocurrency – CryptoRuble
President Vladimir Putin of Russia has officially stated the issuance of the country's own cryptocurency, CryptoRuble at a closed door meeting in Moscow.
In the middle of this year there was already a plan that Russia will create its own digital currency.
Reports says that the CryptoRuble can not be mined but will be issued, maintained and controlled by the government alone.
The digital currency can be traded for regular Ruble at any time but if the holder can not verify the origin of the CryptoRuble, a 13% tax will be charged.
Headlines for the world of Cryptocurrencies - October 15, 2017Canadian Securities Commission shows interest to ICOs and Cryptocurrencies / A £17M London Mansion is for Sale and Sellers will Only Accept Bitcoin Payment |
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Headlines for the world of Cryptocurrencies - October 14, 2017Ripple Offers a Unique Reward System for Financial Institutions that are the First to use RippleNet / Exodus Adds Bitcoin Cash and Ethereum Classic Support |
Headlines for the world of Cryptocurrencies - October 13, 2017Coinbase Announced that Users Can Now Buy Bitcoin, Ethereum and Litecoin INSTANTLY with US Banks / The US State Department is Currently Exploring How the Blockchain Tech could simplify Bureaucracy / bitFlyer has been Granted License as a Cryptocurrency Exchange in Japan |