IBM claims that six banks will issue stablecoins using its World Wire protocol which is based on the Stellar network. According to the tech giant, three banks have publicly committed to the initiative, and the remainder will reveal themselves soon. The announcement joins the resurgence of blockchain razzmatazz this year that feels eerily similar to the last time distributed ledger technology (DLT) was the cat’s meow back in 2016.
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IBM’s Race to Remain Relevant: From the ‘Largest Commercial Uses of Blockchain’ to Private Banks Issuing Stablecoins
With JP Morgan’s newly announced coin and Digital Asset replacing Blythe Masters with new CEO Yuval Rooz, it seems blockchain hype is steaming up once again like a warm pile of cow manure. One prime example is IBM recently making headlines when it announced that six banks signed letters of intent to produce stablecoins using the IBM protocol called World Wire. The barrage of IBM’s meaningless blockchain announcements over the years shows the fervor with which the multinational tech firm has tried to remain relevant. A few people might recall the distributed ledger mania three years ago when IBM told the world it planned to launch “the largest commercial uses of blockchain” by September 2016, back when everyone was gaga for enterprise blockchains that have produced nothing but media puffery.
IBM Blockchain is just an overpriced, rubbish database used to get a rubber stamp from enterprises that want to be able to tell their investors they’re “blockchain enabled”.
Thank you for coming to my Ted talk.
— Riccardo Spagni (@fluffypony) March 20, 2019
However, according to IBM’s vice president of blockchain technologies, Jerry Cuomo, and
