"Through KlickEx, the Pacific has had relatively low-priced, real-time, multi-currency payments for most of the past decade, and this project was a natural next step following our work to create seamless and borderless payments across the Pacific", Bell said. Services like TransferWire, American Express or Western Union Money Transfer are rather good for savvy customers, but not suitable for small businesses which can not afford the huge transaction costs.
The KlickEx Group, IBM, a regional financial services company, and a non-profit organization, Stellar, which supports an open source network of BlockChain, have unfolded new regional cross-border solutions for payments, with the help of BlockChain technology of IBM for providing settlement and trade clearance in real times on a single network.
"This new implementation is poised to start a profound change in the South Pacific nations, and once fully scaled by IBM and its banking partners, it could potentially change the way money is moved around the world, helping to improve existing global transactions and advancing financial inclusion in developing nations". A platform enabling a hyperledger fabric - core to blockchain - in the form of a network that can settle complex cross-border transactions in a matter of seconds is of enormous immediate benefit to banks, and those forms are the initial focus of this announcement.
Digital Currency is The Key: The fresh blockchain banking process is significant as the banks firstly will depend on bitcoin like digital currency called Lumes to ease the payments made across multiple countries.
The solution is already in production - supporting transactions in 12 currency corridors across the Pacific Islands and Australia, New Zealand, and the United Kingdom. The solution is expected handle nearly 60% of the cross-border payments from the retail industries across the South Pacific by 2018 and will expand further.
The technology giant revealed that it and Dream Payments are rolling out Dream Payments Cloud to US financial institutions, which is described as a scalable platform that enables financial institutions to provide business customers with secure mobile and digital payment services that help them go to market faster and improve customer experiences.
In one example, IBM said its service could be used to connect a farmer in Samoa with a buyer based in Indonesia, while covering more than just the payment itself.
IBM's VP of Blockchain, Jesse Lund told that it is an essential next step in the evolution of blockchain technology.
IBM has also partnered with Walmart, Kroger, Nestle and others to improve the food safety by using Blockchain technology which can help to enhance traceability and transparency.
Starting early next year, IBM said it plans to invite numerous banks worldwide to join the network and help it expand.
It was an excellent tournament for both superstars, who are closing out 2017 and looking to carry momentum into 2018. But despite losing in straight sets to Roger Federer in the Shanghai final, Nadal did just that.
Trump also said he was writing letters and has planned phone calls with families of four US soldiers killed in Niger on October 4. Reminded that he was brazenly lying, Trump soon after conceded that he didn't know whether Obama called these families or not.
Quiet weather will last through the rest of the week with temperatures slowly warming back to the low to mid 80s by the weekend . Through the beginning of next week, we will have more sunny skies with little to no chance for any rain.
Abbas has warned he would not accept Hamas keeping its weapons, rejecting a "Hezbollah-model" arrangement in the Gaza Strip. Hamas has repeatedly refused to disarm and dismantle the 25,000-strong fighting force it controls in the Gaza Strip.
Polestars will use an app-based key, which will unlock the vehicle , enabling the pickup and drop-off service. Polestar says it will be a mid-sized BEV, and will compete with models like the Tesla Model 3.
The volume of EXPR witnessed a shift from 2.89 million shares, based on a 50-day average, to 2.52 million shares. Finally, Invictus RG increased its position in shares of Harley-Davidson by 1,518.5% during the first quarter.
They have also won 11 straight road games, the second-best streak in team history since they won 12 in a row from 2006-08. The Patriots are back at home next Sunday to face the Atlanta Falcons for a rematch of last season's Super Bowl.
China will continue to actively participate in and support the work of UNESCO, a Foreign Ministry spokesperson said Friday. Hours later, Prime Minister Benjamin Netanyahu said Israel would quit too, calling the USA decision "brave and moral".
Putin green lights launch of the CryptoRuble
He continued: 'When buying and selling a CryptoRuble , the rate will be 13 per cent from the earned difference. The decision is taken to discourage money laundering and tricks people might play to avoid a tax.
Donald Trump won't get state visit pomp
It followed claims that he was anxious about mass street protests causing embarrassment to himself and the Royal Family. The first real clue that the planned State Visit would not be going ahead in 2017 came in the Queen's Speech in June .
Sucker punched by 26 year-old at Carolina Panthers game
Carrigan says the victim was upset about the fan in the jersey standing up throughout the game and obstructing his view. The team announced Friday it had identified the perpetrator in the video and was working with the CMPD.
Hawks to net two more draft picks in trade with Cavs
In 42 appearances with Cleveland last season, he averaged 4.0 points per game while also splitting time with the Canton Charge. Jefferson was traded this week by the Cavaliers to the Atlanta Hawks and is now unemployed after the Hawks waived him.
Mobile puts 5GB cap on high-speed data in Canada and Mexico
For more information on the upcoming change and a list of related FAQs, check out T-Mobile's dedicated webpage on the matter. T-Mobile customers can track their LTE usage in Canada and Mexico by dialing the short code #WEB# on their phone.