IBM is one of the major technology giants paying close attention to blockchain technology. The company has high hopes for this technology, although it remains to be seen how Big Blue will incorporate it exactly. Interestingly enough, its VP recently confirmed that Stellar is a “big” part of the company’s IBM blockchain platform strategy.
IBM and Stellar Make an Interesting Combination
It has become evident that a lot of companies have high hopes for blockchain technology. Granted, not every idea needs a blockchain, but most of them will certainly make some form of impact sooner rather than later. Until then, most of this industry is grounded in guesswork and hype.
IBM, on the other hand, has been making some big strides in the world of blockchain technology. The company is working on various solutions including a way to speed up and reduce the cost of cross-border transactions. That in itself is pretty interesting, as IBM is not alone in this regard. It is evident that competition in this space will be quite beneficial in the long run.
What makes IBM’s blockchain approach so appealing is that it mainly relies on Stellar’s technology. IBM VP Jesse Lund recently confirmed that Stellar Lumens is being used in a real-world environment for the company’s blockchain solutions, which took a lot of people by surprise. Although both companies signed a partnership back in October of 2017, there have been few updates as to how this situation would evolve in the long run.
It seems things have been progressing quite nicely so far. IBM is working with Stellar Lumens in very interesting ways, and the progress made to this point has surpassed even the boldest of expectations. If this trend keeps up, nothing will prevent Stellar Lumens from becoming IBM’s primary bridge asset in its universal payment solution. That would certainly be a major development for both companies.
Additionally, Lund confirmed IBM has no plans to create its own blockchain token as of right now. While most people may have expected as much, it’s still good to see this being confirmed. With so many companies issuing their own tokens and assets as of late, it has become apparent that this industry is not necessarily headed in the right direction. Thousands of currencies exist already, and there is no need to create any more.