IBM looking to utilize the blockchain for major currencies to enable faster and more secure transfers

03/16/2015 - 00:00

By Nikhil Gupta -

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.