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Stellar and IBM’s World Wire gets another boost as MatchMove joins service




Stellar and IBM's World Wire gets another boost as MatchMove joins service
Source: Pixabay

World Wire is a real-time global payments network for regulated financial institutions and banks around the world to transfer money across borders seamlessly and efficiently.

According to DNA, a news outlet, a partnership between World Wire and MatchMove was finalized on March 19, 2019. The partnership will allow MatchMove to access a single unified network for foreign exchange and cross-border payments [clearing and settlement] built on blockchain technology and the Stellar public protocol.

MatchMove will allow users to transfer funds across borders not just by using Stellar Lumens [XLM], the native cryptocurrency of Stellar blockchain, but also using other currencies, including fiat and digital assets like stablecoins.

MatchMove’s CEO and founder, Shailesh Naik, stated:

“When real-time cross border payments start within IBM Blockchain World Wire network, it will further enhance our B2B Send solution immensely… This is how we use technologies to solve real-world problems everyday by making basic banking services accessible and simple for everyone.”

He further added that the partnership will allow their customers to become part of a global audience and send funds securely at a lower cost and with the security of the underlying blockchain.

IBM’s Head of Blockchain Solutions, Jesse Lund, said:

“Using World Wire, participants like MatchMove can discover each other’s capabilities, negotiate FX rates, and transfer value in real time. This reduces the need for intermediaries and long durations for clearing and settlements – which ultimately can get money into consumers’ hands faster and more cost-effectively.”

World Wire is open for business to potential customers across the world as it offers support in 72 countries, 47 distinct currencies, and 44 unique banking endpoints. It is a direct competition to other blockchain-based cross-border payment solutions developed by companies like Ripple or R3.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator





Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.

“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.

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