As per the latest news on Forbes, submission policy for digital securities Securitize has linked the IBM Blockchain Accelerator program. According to Forbes, Securitize CEO Carlos Domingo said that the company goal is to shape a debt issuance policy using blockchain technology. Domingo said:
“…we hope to modernize the $82 trillion dollars corporate debt market — which is currently riddled with inefficiencies and high fees — with blockchain technology.”
Blockchain technology has been beforehand said to be as a means by which monetary administrations would battle “wicked debt. In his 2016 book Blockchain Revolution, Alex Tapscott saw that loan deception is one of the leading causes of bad debt.
As per the IBM news release Nov. 19, Columbia University as well as IBM had announced two blockchain accelerator programs that intention to aid startups in the space revolutionize at scale.
Both agendas form part of the Columbia-IBM Center for Data Transparency and Blockchain a joint innovation center that was well-known by the technical huge frim and U.S. ivy league university this summer.
According to the release, each program will support ten startups, offering them a network of business mentors, technical support, access to Columbia’s student talent and “research community,” design assistance, and IBM cloud technology resources.
The calamity of trust:
In the recently published The Truth Machine, fintech journalists Michael Casey and Paul Vigna invoke the story of the Lehman Brothers’ collapse to illustrate one of the overarching ideas of their book that of trust as a vital social resource. They maintain that, while many in the world of finance still view the events of 2008 as a crisis of short-term liquidity, this evaluation is fundamentally superficial. The root cause of what happened during the subprime mortgage bubble and then carried over to the whole global banking system was, in fact, society’s unquestioning faith in financial institutions and the integrity of their record-keeping systems and practices. This unbending faith empowered bankers to manipulate their ledgers, accumulating and reselling assets that had little to no value for years.
Blockchain and cryptocurrencies have, for quite a long time, been buzzwords. This December, the company Croe, which previously developed women’s fitness clothing, re-branded itself as The Crypto Company. The famous Long Island Iced Tea Corporation renamed itself Long Blockchain. The company’s shares promptly rose about 200 percent.