Connect with us

Blogs

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

Published

on

Jed McCaleb

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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

Published

on

Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

Continue Reading

Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

Published

on

2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading

Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

Published

on

Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

Continue Reading

Trending