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IBM and Stellar (XLM) Enter Cross-Border Payments

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IBM

The battle to reign supreme in the industry of cross-border payments on the blockchain is no longer the sole arena of Ripple. The long-held partnership between IBM and Stellar (XLM) has yielded another development in the form of a ‘near instant’ cross-border payment solution. The two firms have introduced what is known as IBM Blockchain World Wire.

The new service plans to revolutionize cross-border payments by:

“Clearing and settlement [of payments] with finality in near real-time. The solution uses digital assets to settle transactions — serving as an agreed-upon store of value exchanged between parties — as well as integrating payment instruction messages. It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”

The IBM firm had been known to be running 9 Stellar nodes to settle cross-border transactions prior to the announcement of this new blockchain service. With SWIFT being the only payment solution for the last 50 years, Stellar and IBM enter a domain that needs to be revitalized by new more efficient technologies. The probability of the banking industry adopting blockchain 100% in the next 12 months is very high and both Ripple and Stellar are at the front-line of all the action.

With Bitcoin having set the pace when its ledger was launched in 2009, it exists for such a long time has proven that digital assets can offer tangible improvements to financial services by increasing security as well as making them more efficient.

What does IBM mean for XLM and XRP in the markets?

From a business and investing point of view, XLM suddenly has the upper hand. With XRP having many so-called ‘non-believers’ in the crypto-space, XLM provides an option to invest in a relatively cheap digital asset with the potential of pulling off massive gains in the long run.

XLM is currently valued at $0.20 due to the massive crypto market correction that just happened, and at the moment of writing this. Looking at XRP, it is valued at only 9 cents higher at $0.29. However, XLM has a lower circulating supply at 18.8 Billion whereas XRP has 39.65 Billion. This, in turn, means that with considerable demand once this new cross-border service is live, XLM could continue to gain in the markets.

However, IBM and Stellar have not definitely stated that XLM will be used to source instant liquidity for the cross-border transactions. They simply state that the service will use the Stellar protocol with a Liquidity provider on both ends. A block diagram has been provided below for easier visualization of this concept.

How IBM Blockchain World Wire works. Source, IBM.com

Over 1 Million Active XLM Accounts on Its Ledger

The XLM network recently marked a new milestone of over 1 Million XLM accounts on its ledger. According to the block explorer on the network, the current number of active accounts stands at 1,218,453 further signifying a growing interest to buy, own and use XLM as a preferred digital asset across the globe. A clearer visual representation of the increment in accounts on the network can be found below:

Current active XLM Accounts. Source, stellar.expert/explorer/public/

In conclusion, blockchain technology from both Ripple and Stellar will go on to revolutionize cross-border payments in the next 12 months. This means that we will be more connected globally in not only by using the internet but by near-instant cross-border payments that will make our daily lives more efficient.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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GDA Capital in Conversation About the Future of Digital Assets at Global Family Office Summit

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GDA Capital organized the quarterly Global Family Office Summit this week. The event was held virtually with a number of technology leaders and high net worth investors who discussed issues such as education, trust and responsibility to give back. Among these were insightful conversations with Dubai-based Dalma Capital’s CEO Zachari Cefaratti, Holt Fintech Accelerator founder Brendan Hold Dunn, Global Data Sentinel CEO and White City Ventures Chairman of the Board Shahal Khan, and Elitium CEO Raoul Milhado, among others. Participants were also given access to off-market opportunities to invest in novel technologies.

Will Bartlett, GDA Capital’s Director of Research, headlined the event by focusing on tech in the modern economy, and identifying six sectors where new technologies can make a lasting impact: robotics, space, biotech, machine learning, quantum computing, and blockchain. In the context of blockchain, he discussed how digital assets are a hedge against traditional financial markets. “Cryptocurrencies have no exposure to stock market returns, macroeconomic factors, or returns of currencies and commodities,” Bartlett said.

More so, Bartlett believes that new models for digital assets such as DigitalBits’ branded stablecoins are key to the development of the field. These currencies replace traditional rewards and loyalty point systems that are commonly used by household brands by porting them to the blockchain. Meanwhile, they rely on brand…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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