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IBM brought its payment network Blockchain World Wire (BWW) out of the beta this week, according to a ?? post on the IBM website.
BWW, which uses the digital currency on the Stellar blockchain to facilitate international agreements between banks in "near real time", is the last step forward for IBM and Stellar, which since October look at payment blockchain the last year.
"The solution uses digital resources to regulate transactions – it serves as an agreed deposit of value exchanged between the parties – in addition to supplementing the messages of payment instructions", explains a new summary of the platform: [19659004] "All this means that funds can be transferred to a fraction of the cost and time of the traditional banking system. "
As Cointelegraph reported in July, IBM had partnered with Stronghold, a Stellar-based resource, to create the Stellar prime stablecoin network.
"We consider this as a way to bring a financial settlement into the transactional trading network we are building," Jesse Lund's vice president of the corporation said at the time.
The latest move involves a new competition for entities such as Ripple, which has had some controversial months as managers express doubts about Blockchain's appeal to the banking sector.
While IBM said that blockchain could "revolutionize" the global financial system in an analysis published in January, however, the company considered the idea that the banks themselves would become obsolete as "not probable" .
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