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Why IBM (NYSE:IBM) is Getting Serious about Stellar (XLM)

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Founded in the early years of 2014 by Joyce Kim and Jed McCaleb, Stellar is considered as an open source protocol for exchanging money. Although, it is the offshoot of Ripple, yet there are few philosophical differences. While Ripple focuses on providing solutions to banks, Stellar on the other hand aims to simplify the payment system for people.

Stellar (XLM) has become one of the most well-known topics in the realm of cryptocurrency because of its connection with one of the tech giants IBM. According to the latest updates IBM is providing 9 key validators for Stellar’s network. IBM also mentioned Stellar (XLM) as one of the most explored spaces in the blockchain.

Right now, there is a craze for tokenized assets are a result of the surge in interest for Stellar. However, in spite of the current bearish trend in the market people are still showing a keen interest in investing in digitalized assets.

What Causes The Rise of Stellar(XLM) to $1.09

According to the current updates IBM has been planning to meet with the executives from large corporations, commodity trading platforms and global central banks for finding ways of saving money by using cryptocurrency and the blockchain technology.  Stellar’s partnership with IBM, has already announced in last October. The partnership further, strengthens the use of Stellar, as the cross-border payments by making the digital connection of the fiat currencies on both ends of the transaction. Stellar now replaces Swift, by building a strong bridge.

Several, central banks consider issuing their own digital cryptocurrency and many of these banks use IBM products and services in their backend. Thus it is, natural to assume that the new crypto by these central banks will use the Stellar blockchain. This blockchain is capable of issuing their own tokens and smart contracts that are less malleable than the Ethereum smart contracts but it also has some certain qualities that the Central Banks would like to add in their control of transactions.

Stellar smart contracts are revealed as compositions of the transaction that are generally implemented and linked using several constrictions that are executed by the coder. These constraints comprise of multisignature, sequence, batching/atomicity, sequence and time bounds. These constraints will be absolutely perfect for the cryptocurrencies issued by the central bank.

According to the price analysis by the cryptocurrency market expert, although the market is still bearish yet, Stellar is trying to bounce off the downward trend line. Thus, the implementation of the stellar platform keeps on growing with IBM and its association with 20 global Central Banks. IBM is, in fact, running 9 Stellar nodes in order to confirm the transaction location around the world.

Blockchain Banking

The blockchain banking process generally depends on Bitcoin-like digital currency, known as Lumens only to facilitate the cross-border payments. In recent scenario, the banks opted for such payment options by maintaining foreign accounts in a local currency that is generally known as Nostro accounts. By using this blockchain arrangements banks will keep up the transactions using Lumens and then they try to convert the lumens into the local fiat currency by depending on the local market. These Lumens, created by the non-profit foundation Stellar, is a well-known name in the realm of the cryptocurrency world.

Both Stellar and IBM have become the part of the project named Hyperledger Fabric that is built on the open source blockchain tools that intend to support the infrastructure of the payment system.

As the future predictions made by the cryptocurrency market expert banks will use the Stellar’s digital currency on a temporary basis. There is a higher chance that the banks will start issuing digital currency on their own. These digital currencies will become an essential part of blockchain based money transfers.

Is it the right time to invest in Stellar?

As the time passes by, the Stellar platform is developing gradually and it is getting better day by day. There is a huge possibility that Stellar, after its association with IBM, is adopted by most of the central banks all over the world. The value of Stellar is growing at a significant rate. Thus, this crypto coin is giving a serious challenge to Ripple. Moreover, the volume can also get increased as its adoption by the financial sectors and ICO projects. Thus, it is the golden time to make an investment in Stellar, as later there is a huge possibility that the price can go up.

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.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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