IBM uses cryptocoins in cross-border payments

IBM announced the creation of a blockchain-based solution for cross-border payments in partnership with Stellar and KlickEx
16 October 2017   816

The solution already performs direct transactions in 12 currency corridors on the islands of the Pacific, Australia, New Zealand and the UK. The purpose of cooperation is to enable residents and entrepreneurs from one country to easily conclude trade agreements and carry out transactions with partners from other countries easily, quickly and without waste.

To conduct transactions between different fiat currencies, a token-bridge will be used - the Crypto-currency of the Stellar system, Lumen.

When trading between multiple currencies, it helps to have a bridge currency to reduce the ledgers needed to maintain. Lumen provides that single ledger that can bridge currencies.
 

Jed McCaleb

Founder, Stellar (to Coindesk)

Additionaly, National Australia Bank, TD Bank, Advancement of Pacific Financial Infrastructure for Inclusion (APFII) and Wizdraw (HK) of WorldCom Finance took part in this project. Also, the platform is already integrated with IBM's Financial Transaction Manager, which itself is integrated with ACH, SEPA and other electronic transaction network.

Stellar Lumens price chart

This news had great effect on Lumens' price. XLM gained almost 34% in less than 24 hours!

Stellar Lumens price chart
Stellar Lumens price chart

As you can see on the chart above, there is a real price jump. At the moment, XLM is at the 13th place in Coinmarketcap cryptocurrecnies rating, with $759 800 487 market cap and $0.045805 price. 

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   218

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.