It is rumored that IBM is considering using a "block chain" to create a digital cash and payment system

FX168 foreign media Friday (March 13) reported that, according to informed sources, international commercial machinery Company (Ibm[Weibo) is considering the use of Bitcoin technology-"block chain" (blockchain), the main currency to create a digital cash and payment system.

Sources said the plan was aimed at saving transaction costs by allowing people to use the technology for real-time transfers and payments without the participation of banks or clearing houses. Transactions can be recorded in specific currency books such as dollars or euros.

"When someone wants to trade in the system, you don't need to buy Bitcoin, just yell, I have some dollars," the source said. This is a bitcoin currency. ”

The block chain is considered a major technological innovation in Bitcoin, which is itself the book of digital currency transactions, allowing users to pay anonymously and avoid government regulation. Several technology companies such as IBM are considering the use of block-chain technology beyond Bitcoin, and the digital money system in question is doing the same.

The source said the company has been in informal discussions with several central banks, such as the Federal Reserve, on the chunk-chain cash system. If the concept is approved by the central bank, IBM will build a safe and scalable infrastructure for the project.

The IBM Media Relations department did not respond to a Reuters email on the matter, and the Fed declined to comment. However, there are indications that several central banks are already considering a number of innovations that may arise from the digital currency system.

Http://d3.sina.com.cn/pfpghc/eb9a31ecb9b64931bd70d6c956d5e73e.jpg
In a report last September, the Bank of England described the open books in the block chain as an "important innovation" or would change the financial system more comprehensively.

Books are records of personal transactions, but in this digital currency system, open books are not reserved by banks, and are visible to all users of the system and are traded in the system using accepted procedures.

Sources say the project is still in its infancy and is evolving. It is unclear how to address the concerns about money-laundering and criminal activities that seriously affect Bitcoin development.

Unlike the distributed, unregulated network of bitcoin, the source said, IBM's digital currency system could be controlled by the central bank. "This bitcoin will be part of the money supply. It is just like a currency, but not a dollar note with a serial number, but a currency symbol that exists in the chain of such blocks. ”

Under the programme, this digital currency can be linked to a personal bank account, perhaps using a wallet software that integrates bank accounts with digital currency accounts. "We are at a critical point, and using digital cash is becoming more and more reasonable." This not only saves the government money, but also is very convenient and safe for personal use. ”