Connect with us

Blogs

Stellar (XLM): The Big Bull Is Coming

Published

on

Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

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.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite