"Blockchain will do for business what the internet did for communication – and it’s already happening with these leading blockchain networks"
Leading blockchain networks already making an impact today are as follows: Socially-conscious network Plastic Bank Stopping ocean pollution and reducing poverty by turning plastic waste into currency. Cross-border payments network IBM Blockchain World Wire Clearing and settling of global payments with finality in seconds instead of days. "IBM Blockchain World Wire Presenting the new financial rail that simultaneously clears and settles cross-border payments in near real-time, integrating seamlessly with existing payment systems. How IBM Blockchain World Wire works Using blockchain technology and the Stellar protocol, IBM Blockchain World Wire makes it possible for financial institutions to clear and settle cross-border payments in seconds. Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions.* The institutions use their existing payment systems – seamlessly connected to World Wire’s APIs – to convert the first fiat currency into the digital asset. World Wire then simultaneously converts the digital asset into the second fiat currency, completing the transaction. All transaction details are recorded onto an immutable blockchain for clearing." Luxury goods network Everledger Transforming the jewelry industry by logging the identifying characteristics of over 1.6 million diamonds. European trade finance network we.trade Spreading opportunity to small and medium sized businesses in traditionally underserved markets. Food safety network IBM Food Trust™ Growers, distributors, retailers and others enhancing visibility and accountability in each step of the food supply. Multinational insurance policy network A smart contract policy brings transaction trust, security and certainty to multinational insurance coverage. AIG Private equity network Real-time insights, increased efficiency, security and transparency for fund managers and investors. Northern Trust Canadian digital identity network SecureKey Helping consumers instantly verify identities for bank accounts, driver’s licenses and more. |