IBM’s Blockchain & Digital Currencies VP Shares Company’s Desire to “Change the Landscape” of Financial Services
The Money 20/20 Summit was recently hosted where Jesse Lund managed to be one of the speakers. Lund, known to the crypto world as the VP of Blockchain & Digital Currencies for IBM, spoke at the summit where IBM launched Blockchain World Wire, now available in 72 countries and 47 currencies.
Much of his discussion had to do with the future trends that IBM aims to be a part of, along with how Blockchain World Wire will alter financial services.
Many people using the World Wire appears to pay a lot of attention to Stellar Lumens, which presently ranks as the eight-largest cryptocurrency in the world. Soon, the token, known by the ticker XLM, will be used for real-time transaction settlements, as will the US dollar.
Lund added that this basically means that IBM is “open for business” in payments. Considering that the company has been around for decades, it should be easy to trust it with the financial systems and the payment landscape, which IBM wants to change.
The conversation turned to whether Lund considers himself to be bullish on blockchain technology and the way it can help the financial services industry. He confirmed that he is, noting that this progress is just the start of something bigger. Furthermore, he believes that this should be considered a tipping point for the industry and the transformation to come.
As far as the future for IBM, Lund spoke on disruption, saying that the biggest client segment around the world for IBM is in banking and financial services.
It covers about 40% of their global revenue, but IBM is not looking to compete with their clients with the new Blockchain World Wire. Instead, they want to help with the transition into the future.
IBM and Lund believe that the future comes with the “digitization of real-world assets,” making it possible to move money without friction and with substantial speed. Ultimately, Lund hopes that the industry can ultimately make these transactions happen as quickly as email.