IBM Interested in Blockchain Technology, According to Report
Reuters says technology giant is interested in using blockchain for major currencies.
According to the story, IBM hopes to use the technology to allow people to transfer cash and make payments without a bank or clearing party, therefore saving on transaction and settlement costs. All transactions would take place on an open ledger, much like Bitcoin, of each specific country's currency.
One of the main differences between Bitcoin and IBM's proposed digital currency is the latter would still be controlled by national or supranational central banks, according to the report.
UBS Group CIO Oliver Bussmann recently cited blockchains as a future disruptive force for the industry in February's Waters profile.
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