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Is ripple (XRP) · xRapid conflict? IBM developed international remittance protocol

Is ripple (XRP) · xRapid conflict? IBM developed international remittance protocol

IBM IT global business giant IBM found out that it developed and announced the international money transfer protocol ” IBM Blockchain World Wire ” applying block chains.
With the service based on the Stellar / $ XLM protocol , it is said that it is possible to do international remittance (borderless payment) which takes several days in the past in a few seconds .

Is ripple (XRP) · xRapid conflict? IBM developed international remittance protocol
The left side shows international remittance via the existing system and the right side shows international remittance using IBM’s service.

With international remittance using this service, it is said that you can freely negotiate stable coins that financial institutions (such as banks) use as intermediaries for currency exchange.

It would be a rough flow of the service that bank B transfers legal currency A to arbitrary stable coin and sends money to bank C, and bank C exchanges stable coins with legal currency D.

Stable coins are famous for such as Tether / $ USDT and TrueUSD / $ TUSD linked to the US dollar in currencies with a relatively low volatility secured value in statutory currencies and other assets.

In Japan, it is a topic that the Mitsubishi UFJ Group is currently developing and trialing the ” MUFG coin ” scheduled to be linked as one coin per yen.

What is a stable coin backed by a stable asset? Describe features and applications – CRYPTO TIMES
What is the new hard / dollpeg currency “USD Coin”? A thorough explanation of the difference with similar currency! – CRYPTO TIMES

As for the international remittance protocol using block chains, the product ” x Rapid ” of Ripple (Ripple) / $ XRP has already become famous worldwide.

Is ripple (XRP) · xRapid conflict? IBM developed international remittance protocol
xRapid remittance flow. The service uses XRP as an intermediary currency.

While xRP only uses XRP as an intermediary currency for international remittances, the IBM service that appeared this time seems to have the merit of being able to choose the currency you would like to use from among multiple stable coins .

Meanwhile, Ripple aims to promote xRapid worldwide and works closely with securities exchanges to secure the liquidity of XRP necessary for international remittance.

Article Source: IBM Blockchain World Wire

Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/ibm-blockchain-world-wire/

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