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Stellar’s (XLM) network is a real-world app. Here’s why.

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Stellar XLM network
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The digital ledger notion, also known as the blockchain, has been adopted at exponential rates over the last few years. It all started with Bitcoin, of course.

But Bitcoin has some limitations (purposeful ones), so other projects have created new blockchain networks that address those limitations and make the same technology more versatile, faster and more available.

Stellar (XLM) is one of those relatively new cryptocurrencies (it was released in 2014) that are changing the game for the crypto world, and they are very successful. Firms like Delloite Co. have adopted Stellar to do their work, and they’ve gained efficiency in their businesses in both time and bottom line.

Stellar (XLM) was conceived as a currency to make transactions quick, reliable and easy. But it’s built in a way that every purchase enhances the network’s security as well. You need a minimum 0.5 tokens in your account’s balance to be active in the network, that ensures that every active member is contributing. It also charges a small fee for every transaction which makes DoS attacks either impossible or just too expensive.

When you transact internationally, the risks inherent to foreign currency exchanges play a role and make things more expensive. Stellar (XLM) was designed precisely to reduce those risks thus reducing costs. 

It’s a bridge between currencies that would otherwise be very difficult to exchange due to low international demand. XLM solves this problem as long as there is enough liquidity between each currency in question and XLM.

Stellar is also versatile. Stellar’s apps can be customized so that every customer gets what it needs from them and still gets benefits. This versatility eases the integration for businesses which, in turn, makes adoption more probable. These are some companies that have adopted Stellar just so you get an idea of how useful this network can be.

Parkway project

Mobile transfers are a reality now, and they’re here to stay. But transfers among different providers have been a problem from the start. 

Parkway is solving this problem by using Stellar‘s tech to do transactions that were previously unsupported and keeping costs down for everybody. It now offers transfers between the country’s five major players, and it’s still cheap.

Delloite

Delloite adopted Stellar so that it could manage retail payments (smaller ones) and it’s worked for them. Every transaction takes five seconds or less to be validated, and transaction costs have gone down by 40%. Adopting stellar and customizing it to meet every client’s requirements is relatively straightforward. 

Making Stellar fit into the Delloite ecosystem took only a month’s time (if you have any experience in software development, you’ll know that’s nothing short of a miracle). 

In Deloitte’s industry, this rather straightforward and short effort has reported meaningful increases in profitability, efficiency and potential customer base. It’s made them more competitive in an industry where competition is fierce.

Tempo Money

Transactions across borders have a reputation for being both expensive and slow, which limits their appeal. Tempo’s specialty has been to make remittances available from Europe to the rest of the world. 

Fees went from 4 to 150 euros, depending on the amount. Stellar has reduced those costs a lot. Now they can do 600,000 transfers at the cost of one single USD cent. 

That expands their market significantly. But besides international transfers, this works for payments for health insurance and utility bills at the local level, so it makes things better for clients and Tempo Money at the same time.

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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.

Chart courtesy of Beboy Photographies via Flickr

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore
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Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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