In contrast to the Swell of a conference, the time could come up to Toronto, to be held at the end of Sibos yesterday, with a cracker-news. The American IT-giant IBM has announced at Sibos in cooperation with the technology Start-Up, Stellar (Stellar Lumen Token). The aim of the cooperation is to develop a common Blockchain-solution, which allows for payments across national borders. Also on Board the National Australia Bank, TD Bank, and Klickex, a payment system provider for cross-border transactions from the Pacific region.
It should be built in a “currency area” of 12 different States in the South Pacific, including Australia, new Zealand, Tonga and Fiji, in the cross-border transactions by means of the technology of IBM and the Stellar Lumen Token can be performed. The respective national currencies are to be synchronized via the Stellar Lumen network, the Stellar Lumen Token of the transaction was purchased partners.
In the current, early stage of development, transactions between the British pound and the Fijian Dollar. However, it is planned the exchange with 7 different Fiat currencies, & a. the Australian Dollar, the new Zealand Dollar and Tonga Pa’anga.
The aim of the project is to be realized by means of the network of cross-borders transactions almost in real-time and is also cost effective as all the previous (usual) methods, such as SWIFT. The project should start beginning of next year, and the people on the ground, cross-border, real-time transactions. Once all seven currencies are implemented, according to a statement from the CEO of ClickEx, Robert Bell, the goal of a transaction to reach a volume of up to 60 per cent of cross-border retail market in the Region.
Payment is to be only the first step. Over the network in the future Smart Contracts, that is to say, it should be concluded contracts or agreements. The Blockchain should be used to allow contract terms and conditions, or collateral to, to be able to transaction with immediate effect.
In consequence of this news, the price of Stellar lumen shot up to 130 percent within a day after the top.
And that could only be the beginning. If the project is integrated into other currencies and countries, in particular Australia and new Zealand, could provide the Stellar Lumen Token is still a lot of Potential to above. From our point of view, the investment in the Token, in particular in terms of the small price is definitely worth Considering. As you are create a Stellar lumen Wallet, we’ll show you here. Where you can Stellar lumen buy, we’ll show you here.
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