Cryptocurrency

Are IBM And Stellar Teaming Up?

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The internet is a buzz with rumors of a possible partnership between IBM & Stellar Development Foundation. Jesse Lund, who heads the Blockchain Development & Digital Currencies department of IBM has, without disclosing many details, reportedly given a hint about partnering with Stellar.

The American multinational IT company, whose headquarters is in Armonk, New York, has its branches in more than 170 countries across the globe.

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Nicknamed Big Blue, IBM produces and sells computer hardware, middleware, and software and also provides hosting and consulting services in areas such as mainframe computers to nanotechnology. Besides this, IBM reportedly holds a record for most U.S. patents generated by a business for 26 consecutive years.

Stellar development Foundation, on the other hand, is known for designing and developing online financial platforms which enable users to transfer money among themselves. Moreover, some of its financial platforms are also utilized by companies and financial institutions to carry out various transactions of native digital currency. Stellar Development Foundation was incorporated in 2014 and is based in San Francisco, California.

Jesse Lund hinted about the collaboration in an interview with Fred Schebesta who is the Co-Founder of Finder. The interview was one of the events at the IBM Think 2019 Conference. During the interview, Fred Schebesta asked Jesse Lund about the future plan of World Wire which is a blockchain introduced by IBM, that facilitates clearing and settlement of cross border payments almost on a real-time basis at a reasonable cost. In reply to Fred, Jesse Lund said that he’d “be keynoting a major event in Singapore with [his] friend Jed McCaleb.” who is an American programmer and also happens to be the co-founder and the CTO of Stellar.org

Lund went to state that Jed McCaleb at the keynote would initially start off by talking about digital assets and the role it will play in the future, and also speak about Stellar, and its functions. Later, Jesse Lund along with Jed McCaleb will be seen outlining the existing partnership between IBM and Stellar, which relies on the World Wire platform. Post this;

“there will be a special announcement about the product and… what it includes. Jesse Lund stated, World-Wire is differentiating itself from other solutions, in our approach to supporting a whole variety of digital assets which range from cryptocurrencies, central bank-issued digital currencies.”

Crypto companies and media channels are curious to find out details about the event at which the big announcement will be made. Some media reports suggest that the event referred to by Lund could be the Money20/20 Asia (19-21 March) which is to be held in Singapore.

Money20/20 Asia is likely to be a three-day conference, and it seems that McCaleb and Lund will be the very first guests keynoting the event.
The IBM – Stellar alliance is expected to make transactions more reliable and faster.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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