NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

IBM Looking to “Bitcoinize" Fiat currencies

Nikhil Gupta
Nikhil Gupta
2 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

International Business Machines (NYSE: IBM) is using Bitcoin’s blockchain technology to create a digital cash and payment system for major fiat currencies, according to a source associated with the matter.

The proposed digital currency system will be built on the same lines as Bitcoin and will act in a similar way. The Bitcoin revolution has created a self-sustaining and unregulated economy parallel to the traditional, government-regulated economy. However, the new system will differ from Bitcoin in that it will be controlled by central banks, such as the Federal Reserve. Bitcoin users can transact at extremely low costs, and within seconds, unlike the traditional banks which take up to a couple of days to process international payments and even charge dearly.

ibm bitcoinize fiat currency

The sole purpose of the new system will be to facilitate smooth and quick transfer of funds, without involving a third party, such as a bank, thus bringing down transfer costs. As the case is with the blockchain, where a ledger is maintained to keep a record of all the transactions, the new system will have a country-specific open ledger where the transactions recorded will be printed in national currencies, such as the dollar or euro, said a source on condition of anonymity.

The technology behind bitcoin allows its users to send money anonymously, since no personal details are required to create a Bitcoin wallet.

Another advantage of the blockchain innovation is, that even though the ledger is open and accessible to all the participants in the bitcoin network, i.e. the bitcoin miners, tampering with the sequence of transactions is nearly impossible.

That one of the world’s leading tech companies is looking to expand the use of Bitcoin should come as no surprise, given its reputation of an aggressive player in the market. In the past three years, the growth in the Bitcoin industry has dwarfed that of the rest of the world and attracted huge investments and immensely talented enthusiasts. With national governments now easing their stance and considering Bitcoin and other cryptocurrencies as potential reformative financial tools, it only seems apt that IBM took the plunge in the digital payments industry. Earlier in February, the Bank of England in its “One Bank” research report had linked the Bitcoin revolution to the Internet revolution.

The source revealed that the project is still in its nascent stage, and concerns regarding  money laundering beahviors and funding of illegal activities are being examined carefully. Hence, the government and the financial authorities may also have a role to play.

According to IBM’s source:

“These coins will be part of the money supply, It’s the same money, just not a dollar bill with a serial number on it, but a token that sits on this blockchain.”

“We are at a tipping point right now. It’s making a lot more sense for some type of digital cash in the system, that not only saves our government money, but also is a lot more convenient and secure for individuals to use,”

 

Tweet123Share196ShareSend
Nikhil Gupta
Nikhil Gupta

Nikhil Gupta

Comments 2

  1. worked4IBM says:
    10 years ago

    IBM already backed a digital currency project called Ripple, which was a total failure so IBM silently backed out. Good luck, you’ll never do it while remaining cost effective and this is a move that could do serious damage to IBM’s reputation when it fails.

    Reply
    • yashu gola says:
      10 years ago

      any sources that prove your theory?

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 2

  1. worked4IBM says:
    10 years ago

    IBM already backed a digital currency project called Ripple, which was a total failure so IBM silently backed out. Good luck, you’ll never do it while remaining cost effective and this is a move that could do serious damage to IBM’s reputation when it fails.

    Reply
    • yashu gola says:
      10 years ago

      any sources that prove your theory?

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

隨著七月第三週展開,加密貨幣市場迎來了技術形態突破與敘事轉換的關鍵時刻。比特幣延續突破勢頭,今日突破12萬美元大關,市場信心持續累積;而與此同時,一系列加密資產也開始呈現結構性機會。其中,XRP、So...

Mark Mak 2 hours ago
Bitcoin

Bitcoin Hits $123,000—But Inflows Are Just A Fraction Of 2024’s Peak

Bitcoin has set a new all-time high (ATH) around $123,000, but cryptocurrency market inflows are still far from the peak...

Keshav Verma 2 hours ago

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

美國國會迎來「加密周」,比特幣衝刺關鍵12.5萬美元關口,山寨幣全面爆發,梗幣明星 TOKEN6900(T6900) 狂慶50萬美元里程碑! 目前T6900預售價僅為 $0.006575,或將成為下一...

estherw 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Ash Tiwari 34 minutes ago
Bitcoin Price Breaks $100K

Bitcoin Price Retreats After Hitting ATH — Bulls Pause for Breath

Aayush Jindal 51 minutes ago

【全新升級】Bitunix整合TradingView圖表系統 打造移動裝置專業加密交易 

Peter Chow 1 hour ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    2 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    6 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    8 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    8 hours ago
  • Bitcoin Hyper

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.