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

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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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