IBM is trying to explore whether or not a cryptocurrency is going to be pegged to the US dollar. They are going to try and find out when and even how it could be a better option because when you do compare it to other options, you will soon see that it is far less volatile. The computer giant is a pioneer when it comes to business applications and they also use ledger technology to try and underpin Bitcoin. They also try and help companies to track their supply and their chains as well. It is also their job to try and make international payments far more efficient. IBM is using a currency known as Stellar Lumens. This is working as a conduit and now they are going to start testing a stable coin. This is also known as a crypto-dollar. This is going to run from the blockchain network and it is also going to be known as the Stronghold USD as well. This is named after the network and even the start-up from Fintech as well.
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There has been a tremendous opportunity to try and make blockchain payments far more feasible and this is especially the case when it comes to payments that are across the border. When you look at the IBM senior-vice president you will soon see that they are digital dollars and even a fiat currency as well.
This also gives people the chance to have the required conversion from one government issued currency to things like the USD. It also gives you the chance to convert the whole thing back again, but you don’t even have to do it to the same currency at all. You can do it to a completely new currency and this is especially useful considering that the price of a huge range of digital currencies such as Stellar Lumens can swing on a very wild basis.
They believe that this experimentation with Stablecoin can play a huge role when it comes to the improving costs and IBM is really becoming a digital version and if this can be done with the US Dollar then it can be done with almost any currency out there. Stablecoin is becoming one of the biggest and the best cryptocurrency coins on the market and this can be done with any currency. Tether is the most-widely adopted dollar-backed coin and now more accounts are being created when compared. When you look at the slew of other companies, you will soon find that they are developing their own versions of the coin and this is incredible to say the least.
A lot of other stable coins are built on the blockchain system and this is especially the case when you look at Bitcoin and even Ethereum as well. Stronghold USD is federally insured by the bank and even by Prime Trust as well. This is one of the new stable coins out there and it is being used by the Stellar network. This should allow Stronghold USD to try and process hundreds of transactions every single second and this is far more when you compare it to other blockchains on the market. When you look at Bitcoin you will see that this is limited to on average 7 transactions every single second. It has also been stated that central banks have started showing an interest in digital coins. When you look at the future you will see that a lot more could be done with this in the future.
IBM have announced on Tuesday that they are going to be investing in a new academic partnership. This is going to be done with the Columbia University and they are going to try and accelerate start ups and even innovation as well. They are also going to start supporting people with data transparency and for the first time they have achieved so much over the years.