Hello all!!! You are all welcome to my blog today. Today's article is about the most recent happenings around the blockchain powered by IBM, stellar lumens.
In the late hours of yesterday, being the 31st day of January 2019, IBM, one of the top computer giants in the world announced to the world in a blogpost published by ethereum world news that they have successfully hired more experienced staffs to work on their blockchain project, stellar lumens. A news source last week announced that the price of stellar lumens has reached its 8 month low, owing to the fact that some glitches were found around the formally used protocol guiding the network.
In regards to this, the developers sort to look for a quick solution that will solve the damn issue at hand. Their latest LinkedIn post states that they are in need of someone that has experience in handling the projects' financial services department. This person will be directly working with the stellar ledger. They even sent further to state in full what the duties of the applicant will look like. It states thus;
This role will assist in providing Offering Management expertise in allowing IBM Blockchain Financial Solutions clients, who do cross border payments, to avail themselves of a transformational method to initiate their payments. The Stellar blockchain ledger is used as the system of record for settlement of financial transactions between counter-parties on the World Wire network”
Today, marks the 109th day this company created a huge landmark for themselves, that was when it launched "Blockchain World Wire", which is currently in competition with Ripple's xRapid as well as the popularly known payment network, SWIFT. According to IBM, their blockchain project aims to revolutionize the concept of money by offering the fastest confirmation of any transaction at all, being it a large amount of small one and this would be made possible using the the native coin, XLM (Stellar).
The company or firm (IBM) assures its users that they will never get dissappointed with what they are creating, promising that the Blockchain World Wire will settle international transaction within milliseconds and adding that 3rd parties will completely eliminated from transactions carried out on their network, hence, reducing the cost of transaction and at the same time increasing efficiency. This could be clearly read on their website.
With IBM Blockchain World Wire, clearing and settlement with finality happens in near real-time. The solution uses digital assets to settle transactions — serving as an agreed-upon store of value exchanged between parties — as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”
I don't have much to say on this blogpost, but I see its impact as something that will yield positivity upon achievement. With time the team will be to put things in order again. I think I'm gonn keep an eye on this project too, they are becoming too interesting for my liking.