IBM Thinking Bitcoin

bitcoin-3

March 13, 2015

Tyra Oldham, LANDsds Sustainable Voice News

 

The evolution of the Bitcoin is a option for currency that I must confess has not become as relevant as the natural need for the almighty dollar. The ability to use other currency forms in business may lead to technological advancements and be a Black Swan or a poorly placed application. Time will tell.

Reuters reported International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the “blockchain,” to create a digital cash and payment system for major currencies, according to a person familiar with the matter.”

The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party involved, saving on transaction costs, the person said. The transactions would be in an open ledger of a specific country’s currency such as the dollar or euro, said the source, who declined to be identified because of a lack of authorization to discuss the project in public.

The blockchain – a ledger, or list, of all of a digital currency’s transactions – is viewed as bitcoin’s main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation.

The free and open use of currency is good. The problem is the loss of funds that cannot be traced or replaced. Since to date bitcoin is not backed by an institution such as Federal Deposit Insurance Corporation (FDIC) what is the remedy for loss? I can see a whole world of under ground and green-market currency applications that may be the ripple in the currency market leading to breaking the proverbial piggy bank.

“The company has been in informal discussions about a blockchain-tied cash system with a number of central banks, including the U.S. Federal Reserve, the source said. If central banks approve the concept, IBM will build the secure and scalable infrastructure for the project.”

The opportunity is seen to open and allows for deeper and wider participation. IBM advances, “Rather than stored on a separate server and controlled by an individual, company, or bank, the ledger is open and accessible to all participants in the bitcoin network.”  Is the bitcoin exclusionary or one more layer that keeps the economically disenfranchised from obtaining access to capital? Time will tell.

.

 

 

Advertisements

LANDsds Sustainable Voice is a news platform to share interconnected ideas, innovation and observation-The Nexuses.

Tagged with: , , , , , , , ,
Posted in Business, Business Developments, Corporate, Economics, Financial News, Organizational Change, Technology, Voice News

Have a Sustainable Day My Friend!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

land@landsds.com

Nexuses Images
Skinny Budget Slashing Budget Making some #Zen
What’s TRENDING This WEEK:

July 4, 2015
Fourth of July!

July 3, 2015
Aetna Buys Humana

June 26,2015
The US Supreme Court votes for gay marriage.

June 25, 2015
The US nation's healthcare, Obamacare was upheld by the Supreme Court today.

April 28, 2015
The Marriage Gay Rights decision from Supreme Court

April 27, 2015
Outburst and acts of violence in Baltimore after the funeral of Mr. Freddy Gray, 25 Black male

April 27, 2015
Chipotle Mexican Restaurant Chain decides no Genetically Modified Ingredients (GMO) to be served

April 27, 2015
Loretta Lynch, sworn in as first Black Woman Attorney General of the United States

April 26 -27, 2015
Tragedy in Nepal as 7,000 Reported Dead from Earthquake and Tremors

April 25, 2015
White House Correspondence Dinner in full swing. Jokes, Pundits and Politics

April 9, 2015
Walter Scott killed by police officer in South Carolina. The crime witnessed and video taped by Feiden Santana.

April 7, 2015
Billie Holiday 100th Birthday anniversary

April 2, 2015
Storm and hail expected through south and east.

April 1, 2015
California's drought will change the way the state operates

Nexuses Top News & Pages
We are glad your here!
Nexuses
Archives

LANDsds is the Green Sustainability Voice is dedicated to green, sustainability, green-tech and business contact us at land@landsds.com.

  • An error has occurred; the feed is probably down. Try again later.
  • Innovative Architecture Plyscrapers in Paris June 16, 2015
      Michael Green proposes plyscrapers for Paris  June 16, 2015 LANDsds Sustainable Voice News Vancouver architect Michael Green wrote the book on timber towers, and has made a name for himself building North America’s tallest. He is also great at that…Read more ›
    LANDsds Sustainable Voice News
  • Turning Miami into Next Silicon Valey June 1, 2015
    June 1, 2015 LANDsds Sustainable Voice News SHoP Architects has teamed up with West 8 to design a four-block development, aimed specifically at attracting technology businesses and turning Miami into “Florida’s Silicon Valley”. Located in Miami’s Park West neighbourhood, the 10-acre…Read more ›
    LANDsds Sustainable Voice News
  • BP Settles on Oil Spill for $18.7 Billion July 2, 2015
    July 2, 2015 LANDsdsSustainable Voice News   Big news as “BP to Pay $18.7 Billion for Deepwater Horizon Oil Spill” settled to support the environmental damage in 2010. “The federal government and the Gulf Coast states have reached a tentative…Read more ›
    LANDsds Sustainable Voice News
  • US Puerto Rico In Debt Crisis June 30, 2015
    June 30, 2015 By Dr. Tyra Oldham, LANDsds Sustainable Voice News As we the focus on Greece, Puerto Rico is in trouble. Puerto Rico a travel economy with cheap wages and high energy cost is under water. Puerto Rico a part of US…Read more ›
    LANDsds Sustainable Voice News
%d bloggers like this: