IBM Crypto Chief Calls Company the “Leader” in Blockchain Technology
IBM’s Jesse Lund, who heads the blockchain division, claims IBM is the leader in blockchain technology.
In a recent interview, Lund stated:
What IBM’s been doing as the leader in blockchain technology for the last three years is adding security and confidence to the system.
IBM And Stellar Partnership Challenge xRapid
Lund talks about IBM’s cross-border payments solution, which in part uses Stellar Lumens for settlement, and how one of the oldest technology companies in the world plans to revolutionize the remittance market. The solutions developed are challenging Ripple’s xRapid product for adoption, but all the products will have to work together to create a global and harmonious system.
He explains:
We’re building on a new idea, which is to be able to store monetary value electronically and be able to move that value around the world in real time… I think the problem with cross-border payments today, the inefficiencies are based on the fact that the way that banks communicate, the network that banks communicate on is separate from the network or the rails that money actually moves on. And those things are distinct and they require a lot of coordination and reconciliation after the fact. That adds what we call friction. By having a digital store of value that can move with the payment data, we make the whole process a lot more seamless and a lot more point-to-point.
