IBM World Wire: Worth the Hype OR Simply PayPal on #blockchain
▻https://hackernoon.com/ibm-world-wire-worth-the-hype-or-simply-paypal-on-blockchain-8c5bc2c42f9
(Source: Albello)As IBM announced its “Blockchain” based solution — World Wire, an international payments solution based on Stellar, a few thousand people groaned in disappointment. You see, Stellar is not a Blockchain, it is a Decentralized Ledger Technology (DLT). In simple terms, if the transactions are not put in “Blocks”, it is not a Blockchain.Maybe the guys at IBM overlooked this small detail while coming out with an intermediary-centric solution “based on trust”. Take a look at the introductory video and try to count the number of times Trust and Centralization rear their heads.What is IBM World Wire?Basically, IBM has built a global online banking protocol that sits between two transacting banks. If A in Australia wants to send money to Z in Zimbabwe, the current system is slow and (...)
#stellar-asset-stablecoin #ibm-world-wire #clearance-and-settlement #paypal-on-blockchain