A report by Coin Survey, 05 September 2018.
International Business Machines (IBM) has silently developed ‘Blockchain World Wire’ (BWW) with the aim to compete with Ripple’s xRapid.
The cross-border payments via BWW will be based on Stellar protocol.
A document provided by IBM illustrated several comparative advantages and quoted, “can simultaneously clear and settle cross-border payments in near real-time.”
“IBM is transforming cross-border payments with IBM BWW, the integrated network for real-time clearing and settlement. This new global financial rail allows banks and financial institutions to send and settle payments around the globe with finality in a matter of seconds, eliminating enduring challenges that have long hampered the cross-border payments industry,” said IBM website.
IBM is preparing to demo the product to international banking representatives attending the annual Swift operations conference in October in Sydney.
Source: www-01.ibm.com, commons.wikimedia.org , pixabay , unsplash opalesque.com, finextra.com, coindesk.com