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IBM has indicated that it will be willing to work with Facebook on Libra. However, this does not mean that IBM may want to join the Libra Association.
One of the greatest technology companies on the face of the earth IBM has indicated its willingness to work with social media giant Facebook on its cryptocurrency Libra. In a CNBC interview on Monday 23rd September 2019, the Blockchain services of the firm Jason Kelley indicated his organization’s willingness to work with just about anybody in the crypto space. He said:
“Blockchain is a team sport… Our clients are ready to work with (Facebook) and we’re ready to work with all of them to bring it together.”
He indicated that Facebook’s entry into the crypto space added legitimacy to the technology behind cryptocurrencies indicating IBM’s focus on Blockchain technology.
He further highlighted the importance of being able to tell the difference between cryptocurrencies and tokenization of assets. Where almost anything can be represented on a ledger. He said:
“We talk about libra and people say it’s just another crypto. Set crypto aside and talk about tokenization, because that’s what we’re talking about.”
In a sudden twist, however, IBM hasn’t yet indicated interest joining the Libra Association whose membership is made up of the “who-is-who” of the financial and technology world. This may be connected to its core interest in solving problems independently while at the same time trying to work with others as and when needed. This has demonstrated time and time again throughout its 108 years (IBM was founded in 1911).
Meanwhile, IBM has made a significant contribution to the field of artificial intelligence with its Watson artificial intelligence platform. Making significant strides in the field and giving insights to the solving the core issues surrounding artificial intelligence such as deep learning, natural consciousness, personality formation and so forth, IBM is one of the world leaders in this fledgling but critical field.
Facebook Makes Strategic AI Acquisition
Facebook’s recent acquisition of ServiceFriend has led many to believe that the social media giant is entering into the artificial intelligence field as well. The truth is that they have all it takes because of the kind of automation and intuition that they must employ when running and what may be the World’s most intuitive in-house artificial intelligence platform running what is probably the biggest social media platform combined (WhatsApp, Instagram, and Facebook).
However, as has been noted as well, many of the management staff of the Israeli Startup are also working at Facebook’s Libra division. Speculation has it that Servicefriend will play the role of customer relations on Libra’s platform. While it is too early to tell, it is highly likely that there will be many artificial intelligence components on the Libra platform. However, one thing is certain, Libra will change the way people look at cryptocurrencies forever.