Jed McCaleb, the creator of Mt. Gox, and Stellar CTO told CNBC yesterday that he envisions a Blockchain powered, a single payment system for the entire world. Similarly to Ripple, Stellar is a Blockchain powered international payment setup that uses a digital token.
Jed went on to say that “it seems pretty clear to me, in the future, there will be an operable universal payments network.” Adding that he sees a possibility for a hybrid system that facilitates the payment of fiat currencies through the Blockchain.
With Ripple already lined up by South Korea’s Woon Bank for implementation on a commercial basis later in 2018, Stellar and Ripple are being considered by legitimate financial institutions as part of a major shake-up of their remittance models.
By 2028, Stellar’s blockchain technology could power a “Universal Payments Network” that processes not only payments but also traditional assets like stocks and shares. McCaleb said:
“In the next 10 years I wouldn’t be surprised if all equity isn’t tokenized on some blockchain somewhere. The change will potentially occur before 2028.”
Stellar networks’ token: the Stellar Lumens (XLM) had been on an upward trend for quite a while, before dropping to $0.2512 yesterday. Its recent adoption of the lightning network, to help neutralize against future drawbacks has also helped lead to press coverage.
— Stellar (@StellarOrg) March 19, 2018
McCaleb, who has been a crypto developer for a long time, has predicted Stellar’s technology will change international financial systems, including stock markets, payments, and fundraising by 2028. With a resume that includes starting the Mt. Gox Bitcoin exchange and being the CEO at Stellar, he’s not someone to ignore. And with the current phenomenon of Initial Coin offerings (ICOs), he says the financial system does not presently tap the market.
The financial research firm, Autonomous Next reports that these ICOs have helped to raise nearly $9 billion in a little over four years.
However, the popularity of ICOs has also seen the unfortunate growth of fraudsters taking advantage of the new technology to raise funds and leave investors in the dark without their cash.
This activity has attracted the attention of regulators from around the world, but supporters of token sales argue that they represent a new model of fundraising.
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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 Jason Judge via Flickr
Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
One thing that is expected is the approval of Bitcoin ETFs…
Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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