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Exclusive: Ibm Looking At Adopting Bitcoin Technology For Major Currencies

By Ron Burgundy,
March 12, 2015 in Tech News

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Ron Burgundy

Posted March 12, 2015

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Posted March 12, 2015

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - International Business Machines Corp is considering adopting the underlying technology behind bitcoin, known as the "blockchain," to create a digital cash and payment system for major currencies, according to a person familiar with the matter. The blockchain - a ledger, or list, of all of a digital currency's transactions - is viewed as bitcoin's main technological innovation, allowing users to make payments anonymously, instantly, and without government regulation. The proposed digital currency system would work in a similar way. "It's sort of a bitcoin but without the bitcoin." IBM is one of a number of tech companies looking to expand the use of the blockchain technology beyond bitcoin, the digital currency launched six years ago that has spurred a following among investors and tech enthusiasts.