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Jed McCaleb: Stellar Lumens technology will lead to new global payment systems

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Jed McCaleb
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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.

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.

We will be updating our subscribers as soon as we know more. For the latest on XLM, sign up below!

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

Blogs

3 Things to Avoid if You Want Your ICO to Succeed

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Initial Coin Offerings, or ICO, have become quite popular in 2017, which is something that also continued throughout 2018. In fact, there were hundreds, if not thousands of them so far. However, no matter how many of them were organized, most never managed to make it into the market and achieve their goals.

Analysts claim that there are a lot more failed ICOs than there are successful ones, which has caused a lot of people to simply give up on the idea. However, many are still curious to know what went wrong, and while failed ICOs can be studied for years without discovering absolutely every flaw, some of the bigger ones can be spotted right away.

This is why we will now list top three reasons why so many ICOs failed, and everyone who is thinking about launching one should pay close attention.

1. The lack of demand for the product

According to estimates, around 60% of ICOs often fail at the first stage simply for the lack of interest in what they offer. When someone comes up with an idea and launches an ICO in order to raise money, they are presuming that people will be interested in investing in this idea. In addition, prior to making an announcement that an ICO is coming, it is wise to ensure that the announcement will be heard in the first place.

Additionally, ICOs need to be approved by appropriate…

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Bitcoin

Reasons Behind The New Bitcoin Crash

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Cryptocurrency investors and supporters experienced quite a shock last week with the latest Bitcoin crash. Almost every single one of top 100 cryptocurrencies trading in the red. Not only that, but most of them experienced massive losses, often larger than 12%, or even 15%.

The event was unexpected and all cryptos, with the exception of a handful of stablecoins, lost a large part of their value. However, as always, Bitcoin is the one receiving the most attention, especially since this is the first time that BTC has dropped below $6,000 in a long while. Right now, Bitcoin is still losing value, with its current price being at $5,503.11 per coin, and a drop of 12.76% in the last 24 hours.

After the initial shock, a lot of investors started wondering and researching the new crash. The main question still remains: Why did this happen?

While this is more than understandable, especially considering how much money, time, and patience people have invested in crypto, the reasons behind the new crash remain obscure to many. Because of that, we are now going to explain two events that are most likely to be causing this situation.

1. The selloff

This is believed to be the main reason for the new crash of Bitcoin. The selloff came as a consequence of the last year’s bull run, which has launched BTC and other coins to entirely new heights. Because of that, numerous…

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Altcoins

Here’s Why This Coin Still Has Wings (WINGS)

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WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.

Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.

What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.

The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…

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