The Big Blue is helping launch a stablecoin (or coins that are pegged to fiat currencies) cryptocurrency. IBM Corp. (IBM) has partnered with Stellar, a blockchain that shares technology with Ripple, and Stronghold, a startup, to launch USD Anchor. Coins of USD Anchor are backed by an equivalent amount of US dollars stored at FDIC-insured banks by Nevada-based Prime Trust. According to Jesse Lund, IBM’s head of blockchain services, the startup plans to “enable all sorts of digital transactional networks to settle their transactions with digital fiat currency on the same blockchain networks.”OK, easy to do. Tether does it just fine, didn't need all those partners. The fiat system has a consensus method, it is easy for them to cooperate on digital, liquid dollars.
Saturday, July 21, 2018
IBM makes digital dollars
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