300% increase? It's Elementary, Watson: IBM to use Stellar lumens Blockchain for Cross-Border Transactions
It appears so.
The Stellar lumens Blockchain, and blockchain Technology as a whole, just received one hell of an endorsement with a partnership between IBM, retail, currency exchange service providers, and several South Pacific banking institutions. Prelim projections say the partnership will use blockchain technology to validate up to 60%+ of retail transactions (not including remittances...crazy) in the "currency corridors" of the South Pacific.
A currency Corridor essentially is a the flow of currency between two Nations/ banking institutions. I'm not certain of all the fiat currencies involved but I know the UK, Fiji, Tonga, Australia, and New Zealand make 5 of the 7. Think of it like sending money Western Union instantly from your phone and sans exorbitant fees. (Side note: If you have Western Union stock it might be a good time to start dumping it. I think it's about to go the way of the dodo. That is of course unless they cut IBM in on some of that action!)
Stellar lumens is a blockchain tech / cryptocurrency that will act as the blood of the body between all the world's different currencies; both Fiat and crypto. It will allow for fiat to fiat, fiat to crypto, and crypto to crypto exchanges that can happen in real time, cross-border with most minimum of fees; and most importantly: without taxation (THEFT).
It goes without saying the whole point of crypto is to make private one's transactions while blockchain technology creates a trustless means of transaction validation of said cryptos. I am so eager (terrified (see "2001: A Space Odyssey" "Terminator" "The Matrix" "Eagle Eye""IRobot" etc )) to see how IBM will utilize Watson in this endeavor. (Watson is the same Analytics quantum super computer, doohickey majigger that PWNED the all-time winningest Jeopardy champion Ken Jennings so badly, that as part his correct Final Jeopardy answer was, "(I for one welcome our new computer overlords.)") (Also you have no idea how hard it is to resist lacing this entire post with references to "South Pacific the musical"; albeit you know my Black ass ain't never seen it. It would be a feigned attempt at appearing "cultured" (S/O McKenna): "Stellar lumens set to go Bali Ha'i")
It is no secret that big banks have been using blockchain technology and crypto currencies, such as Bitcoin, to do cross-border trades already. But this is gonna be monumental because of the scope and scale. Could it be this move is a power play for Central banks to to get a foothold in the Cryptosphere in one of the most, if not the most, commercially important regions on the planet and help maintain their sphere of control; or will this be the crypto Trojan Horse for global adoption of cryptocurrencies; ultimately destroying fiat currencies/Central Banks/Governments (Statism)? Or am I just a "Cockeyed Optimist". (I couldn't resist)
Related Articles:
http://www.zdnet.com/article/ibm-debuts-blockchain-network-for-cross-border-payments/
https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/
I have purchased 12500 on Bittrex @ 3 cents each.
I think this will likely move upwards of $1.00 in the next few months.
I also plan to take what ever earnings I get from the Bitcoin Gold hard fork and buy more.
I now hold large amounts of Ripple as well.
Looking forward to some moon shots.
Thank you for posting this.
I was about to put my own post together when I found your post on twitter.
upvoted and resteemed.
Now following you.
Just my two STEEMS Worth.
Beautiful! Waking up to this post, the related article on CoinDesk, and of course the state of my Stellar holdings... It's already a good day. :-)
I stayed up all night to get this out! I'm probably going to look back on this one day very soon and laugh at how much I thought I knew. Here it is nonetheless. And please if I misspoke, correct me!!!
Great article! Very interesting info that gets me thinking about possibilities for our future. I think things like block chain currencies are key to destroy the most dangerous superstition to humanity.... the belief in gov. Also, I enjoyed the Ken Jennings vid. Thanks for writing about what to me is a boring topic in such an entertaining way.
Brilliant post. Stellar may well be that platform which eases the transition throughout this evolutionary deselection of the legacy banking institutions. These pesky de Rothschild aren't going down without a fight, but in short order the critical mass will overwhelm them. How glorious it will be.
Thank you. And I couldn't agree more!