Stellar payment infrastructure eyes to make the cross-border remittances better through partnering with Keybase company – and ultimately overtake the Ripple.
Stellar is the open-source, XLM (distributed payments infrastructure) that is, in fact, aspiring to outstrip Ripple (XRP); the goal is through partnering with the company Keybase to accomplish cross-border transaction improvements.
The payments infrastructure recently stated they are teaming up with the company Keybase who is well-known for its free mobile and computer security apps. Both companies are aiming to enhance cross-border deals with the purpose of connecting people with financial services costing lower than what users pay now, and this way, fight against poverty by developing the potential of each individual.
The previously detailed service is actually offered by Ripple, who through its blockchain platform (Rippkenet) counts with a pool of allies of over a hundred member financial institutions and banks. That makes the Stellar purpose not so easy to get, but the company is definitely committed to succeeding on its path.
To make this possible, both Keybase and Stellar are expecting that asset holders and investors have the possibility of making cross-border operations without the usually-required lengthy string of the digits. Instead, they want to create a platform that allows access only with a username readable by a human easily. In this particular matter, Stellar declared:
“In short, I can interact with her financially in the same way I interact with her socially.”
Overall expectations are to have an end product like a decentralized global Venmo, which means an application that enables users to transfer currencies by using a mobile app or the web. The idea is to be able to send not only one type of cryptocurrency but instead, all crypto assets.
Mt Gox exchange created by Jed McCaleb, who also founded the real-time reimbursement system Ripple, made a very consolidated system; and from the point of view, both altcoins are very similar one to the other; both were conceived with the idea to be functional on commercial establishments.
Nevertheless; in spite of the similarities, Stellar is conceived as a non-profit organization and on the other hand Ripple is, in fact, a firm operating for profit. Besides, Ripple is developed as a centralized operator, while Stellar is actually considered decentralized on its operations.
As a matter of fact, Ripple is the number three cryptocurrency when it comes to the value of market cap — and shows up as a solid competitor for Stellar. Nonetheless, this is actually not stopping the company from improving its services with the hope climbing up from the seventh place.
Related to the previously exposed, the expectations are that after the alliance with Keybase, Stellar could improve their services and provide better attention to their customers; meaning, of course, increasing customer satisfaction and the possibility of overtaking Ripple on the field.
In conclusion, Stellar may overtake Ripple as the go-to platform for cross-border payments, it all seems to take us there as all the foresight are being made. Nonetheless, it’s only a matter time to see what can happen; we never know what Ripple may have to fight back this strategy.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Derrick Noh via Flickr
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
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In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
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