IBM backs new stablecoin, opens blockchain research centre

Tessa DempsterTessa DempsterJuly 18, 2018

IBM has announced two partnership ventures, a new research centre dedicated to blockchain technology and a new cryptocurrency pegged to the US dollar.

The Columbia-IBM Center for Blockchain and Data Transparency is a cross-disciplinary initiative and will explore key issues related to transparency and data when using blockchain technology.

Director of IBM research and senior vice president of Hybrid Cloud Arvind Krishna said the company’s past research indicated blockchain was beneficial to industries.

'With Columbia, we are able to bring together leading thinkers on applying blockchain and data best practices based on extensive research and business experience,' said Krishna.Click To Tweet

Columbia University Provost John H. Coatsworth said collaborating with IBM would play an important role in education and research into the technology.

“We anticipate that through this partnership, we will significantly advance scholarship and applications of data-sharing and data-transparency technologies,” said Coatsworth.

IBM has also partnered with financial services provider Stronghold to launch Stronghold USD – a new ‘stablecoin’ on the Stellar blockchain platform.

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