Name: Insights: How IBM Is Using Blockchain and Digital Currency
Uploaded: 2020-02-25
Duration: 2 min
Description: A discussion with Marie Wieck of IBM. (June 2019)

[MUSIC PLAYING] MARIE WIECK: We really have been engaged at IBM and blockchain for almost five years now because we see it as a fundamental way to build trust and transparency in all types of industries, finance being one of them. And in particular related to finance, cryptocurrency isn't what our value proposition or what we think the real belief is, it's in creating a digital economy where you can link goods and information and transform these processes. But to have that exchange of value for all these different networks, you need a public network, you need a connection point for that exchange. So we've been operating, when it comes to digital money, in three different areas. There are transactions occurring bank-to-bank, particularly central banks with the goal of digital fiat currency, which we think is the ultimate endpoint, and our work with CLS on payment netting for those top rails of all the currencies is a good example. We also see people going direct, B2B. So we're working with Visa on their B2B connect and how they're using that for direct exchange between businesses for effects so you take out some of that friction in those transactions. And the most underserved, I think we all agree, are the consumer-to-consumer-- remittances, sending money back home to the Philippines or wherever you want to do that, and in order to get that kind of value proposition, we've invested in World Wire, which is live with a test net connecting almost 50 different currencies, so that you can, whether it's for a stable coin or whether it's just as a bridge token between two currencies, get that friction out of the system and enable a real-time clearing and settlement. 

Insights: How IBM Is Using Blockchain and Digital Currency

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How IBM Is Using Blockchain and Digital Currency

A discussion with Marie Wieck of IBM. (June 2019)

way really have been engaged at IBM in Blockchain for almost five years now because we see it as a fundamental way. Thio build trust and transparency and all types of industry finance being one of them and in particular related the finance. Crypto currency isn't what our value proposition or what we think the real belief is. It's in creating a digital economy where you can link goods and information and transform these processes, but have that exchange of value for all these different network. You need a public network. You need a connection point for that exchange. So we've been operating. When it comes to digital money in three different areas, there are transactions occurring bank to bank, particularly central banks, with the goal of digital Fiat currency, which we think is the ultimate end point. And our work with pls on payment netting for those top rail of all the currency's is a good example. We also see people going direct me to be so we're working with Visa on there be to be connected and how they're using that for direct exchange between businesses for effect. So you take out some of that friction in those transaction and the most underserved, I think we all agree, are the consumer to consumer Remittances, sending money back home to the Philippines or wherever you want to do that and in order to get that kind of value proposition, we've invested in World Wire, which is live with a tough nut connecting almost 50 different currencies so that you can, whether it's for a stable coin or whether it's just as a bridge token between two currencies, get that friction out of the system and enable a real time clearing and settlement.