IBM enters blockchain universe with World Wire payments network

IBM has entered the world of blockchain with World Wire, a new global payments network, to support payments and foreign exchange for banks and non-banking finance companies. IBM is calling this a radical overhauling of the way money moves and a reinvention of the payments systems. While the current payments networks do not talk to each other and and are not interoperable, the new IBM network is open and does not differentiate between currencies.
The product provides real-time settlement using a variety of digital assets and is not partial to any one asset. This blockchain solution is for regulated financial institutions. It is the first such blockchain network of its kind to integrate payments messaging, clearing and settlement on a single unified network while allowing participants to dynamically choose from a variety of digital assets for settlement.