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Stellar (XLM): The Big Bull Is Coming

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The Stellar (XLM) blockchain is been loved by many enthusiasts for its simplicity and its mandate to provide cheap financial access, literacy and inclusion all over the world. The Mandate of the Stellar Development Foundation is to expand worldwide through the numerous partnerships and in turn further push its chief goal of providing the said low-cost financial services through the development and maintenance of technology across the globe.

One of its major partners has just done that. This partner is none other than IBM that currently runs 9 stellar nodes to settle international payments around the globe.

In this case, IBM has just won a lucrative 5-year contract with the Australian government worth AUD $1 Billion or the equivalent of $750 Million. The new deal aims at making Australia a top 3 digital government in the globe by 2025 through the investing in blockchain technology, quantum computing as well as artificial intelligence. All these sectors of technology will be in constant research and development to guarantee Australia makes it to the top rankings of global technology as well as maintaining that position.

The exact details of the partnership have not been revealed but the Stellar blockchain is bound to be part of the agreement. This brings some renewed hope to the Stellar project and coin. The Stellar blockchain and coin are ideal for running the back-end payment settlement for the various Australian government agencies during regular times of operations as well as during emergency services. The fact that the Stellar blockchain has many features, such as a timing aspect on its smart contracts for disbursing funds, makes it ideal for recurring payments for a government. XLM will be used to source instant liquidity in the transactions.

Another project that the Australian government can tap the Stellar blockchain through IBM, is the current plans of the said government to start delivering social security welfare payments to its citizens on the blockchain. As earlier mentioned, Stellar is ideal for timed payments as well as micropayments due to its low cost per transaction. XLM can be used for these transactions hence increasing the demand for the coin and eventually its price. No wonder XLM fans are expecting the price of the coin to increase in value by 350%.

All these services in Australia on the Stellar platform will be more enhanced due to the recent acquisition of the fintech company of Chain by the Stellar Foundation. The reason for doing this, and using XLM as a means of payment for the acquisition, is to tap into the experienced pool of developers at Chain.

Summing it up, the fact that IBM has won a government contract in Australia makes the use of the Stellar blockchain and XLM highly likely for some of the government services. IBM has even tapped Stellar to track carbon emissions. This means the blockchain is ready for the challenge ahead as well as the coin to have more utility hence boosting its price.

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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.

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Blogs

How is the Crypto Market Changing?

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It has been around a month and a half since the start of 2019, and there are already some pretty obvious changes in the way the crypto market operates, especially when compared to the last year. Early 2018 was almost a complete opposite. The previous year started with cryptocurrencies at their strongest, only to see them crashing down after a few weeks. Back then, the ICO model was still quite strong, and so was the hype surrounding the crypto space. New investors kept entering the space, and new startups emerged with their tokens ready to be sold.

As the year progressed, things started to change. The prices continued to drop, the ICO model went down from around $1.4 billion in raised funds at the beginning of the year to only $100 million in the last month.

The ICO model lost investors’ trust, as many of the projects turned out to be either too weak to survive after the crypto winter struck, or scams which tricked investors out of their money and disappeared. Not to mention that the increase in ICOs popularity attracted the regulators who cracked down on them pretty hard, especially in the US.

With all of that happening, it is of a small surprise that the investors started giving up on ICOs, especially with the constant drops in prices which saw even the largest coins…

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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