IBM technical giant will soon enter cryptocurrency space. Through its partner, Shuttle Holdings investment firm, it will offer custodial services to various institutions.
IBM is increasingly gaining a presence in the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details industry through its World Wire international money-transfer system, which uses the Stellar blockchain (XLM). Other projects may result from this partnership.
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Shuttle Holdings solution
The private IBM system and encryption technology will be the basis of the new Shuttle Holdings custodial solution. The tools will be launched in beta later this month.
Brad Chun, Shuttle's Chief Investment Officer, said that the storage solution will have significant differences from other recent proposals at the institutional level: "There are always trade-offs between safety and efficiency, but we don’t use traditional storage. Instead, we store keys in encrypted form on several levels so that the organization can store backups using existing disaster recovery and backup processes." Adding: "All businesses can start storing digital assets, not just cryptocurrency."
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IBM together with Shuttle Holdings launch crypto-technology. Fidelity, the leading professional foundation, should also soon launch a custody decision for the founders. This service, created by a recognized financial player, has become a turning point for the industry.
Editor: Jerg Wos