10-23-2021, 01:43 AM
IBM utilizes the Stellar network which uses XLM as bridge currency for cross-border
<!-- SC_OFF --><div class="md"><p>The following excerpt from the article, <a href="https://www.ibm.com/blogs/blockchain/2021/10/fueling-the-financial-industry-with-open-source-cross-border-payments/">https://www.ibm.com/blogs/blockchain/2021/10/fueling-the-financial-industry-with-open-source-cross-border-payments/</a></p> <p>We designed the original IBM World Wire to reduce the cost and friction in cross-border payment. We are happy to share it with the open source community. Here’s a look:</p> <p>Utilizes the Stellar network which uses Lumens as bridge currency — essentially a unit of value for transfer of value and transaction costs calculations</p> <p>All money transactions in the Stellar network (except lumens) occur in the form of credit issued by anchors, so anchors act as a bridge between existing currencies and the Stellar network Anchors are entities the network participants trust to hold their deposits and issue credits into the Stellar network for those deposits</p> <p>The credit issuance implies digital obligates which need to be settled out of band via traditional rails, for example. The idea is to provide a choice in the network for anchors to issue credits or stablecoin for instant settlement — addressing various business cases and cost points to the ecosystem and network operator.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/chiantiaxxa"> /u/chiantiaxxa </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qdbdc3/ibm_utilizes_the_stellar_network_which_uses_xlm/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qdbdc3/ibm_utilizes_the_stellar_network_which_uses_xlm/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>The following excerpt from the article, <a href="https://www.ibm.com/blogs/blockchain/2021/10/fueling-the-financial-industry-with-open-source-cross-border-payments/">https://www.ibm.com/blogs/blockchain/2021/10/fueling-the-financial-industry-with-open-source-cross-border-payments/</a></p> <p>We designed the original IBM World Wire to reduce the cost and friction in cross-border payment. We are happy to share it with the open source community. Here’s a look:</p> <p>Utilizes the Stellar network which uses Lumens as bridge currency — essentially a unit of value for transfer of value and transaction costs calculations</p> <p>All money transactions in the Stellar network (except lumens) occur in the form of credit issued by anchors, so anchors act as a bridge between existing currencies and the Stellar network Anchors are entities the network participants trust to hold their deposits and issue credits into the Stellar network for those deposits</p> <p>The credit issuance implies digital obligates which need to be settled out of band via traditional rails, for example. The idea is to provide a choice in the network for anchors to issue credits or stablecoin for instant settlement — addressing various business cases and cost points to the ecosystem and network operator.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/chiantiaxxa"> /u/chiantiaxxa </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qdbdc3/ibm_utilizes_the_stellar_network_which_uses_xlm/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/qdbdc3/ibm_utilizes_the_stellar_network_which_uses_xlm/">[comments]</a></span>Kind Regards R