The first currency was made 5,000 years ago. Today’s financial system does not work for everyone because it is slow, expensive, inequitable, and cumbersome. Examples include ACH (Automated Clearing House) and SEPA (Single Euro Payment Area). Connection to external systems takes time and money. Millions of people feel marginalized.
Blockchain technology is the next evolution. It is the way of sending value effortlessly. The inner workings of the internet is bringing about a positive change to this world.
Danelle Dixon, CEO of Stellar Development Foundation, shared at Road to TiEcon about Stellar and it’s impressive functionalities. It was a great takeaway for upcoming generations to know more about the latest technologies in the finance sectors.
“In Stellar, we believe that we can make a new change that is open and uninterruptible. ” – Denelle Dixon.
Therefore, what is Stellar?
It is a decentralized open network that connects the world’s infrastructure. It empowers people and gives ownership or real value. It connects financial systems. Stellar is mainly
- A network of independent computers
- Tracks digital representations of value
- On a public, permanent, synchronized ledger
- Democratize systems and greater financial equality
- Equitable access to financial systems
- Evolution of financial inclusion
They provide a stable coin for payments without borders while being stable and secure. There is a trust of information. Funds travel seamlessly between 3 to 5 seconds and facilitate multi-currency transactions. Stellar’s issuers are protected and have a global financial infrastructure.
Why choose Stellar?
- Fast and Affordable – It only takes 3-5 seconds. Takes only 1 cent for thousands of transactions.
- Asset Issuance – This is the backbone of the Stellar Network. It enables the creation and trade of digital representations of all forms of value. All types of assets can be represented to redeem assets and gain technological advances.
- Compliance – It is compliance-friendly, KYC/AML checks before transactions are confirmed. Financial institutions require an authorization, which allows asset issuers transactional approval for their tokens. It is also easy to access.
- Developer Tools – Developer tools can quickly build, on-chain decentralization order books, with negligible transaction costs and ease of creating assets and comprehensive tutorials. The ecosystem is built around Stellar, which developers can depend on.
- Sustainable – Energy-efficient blockchain is used.
- Network – Ensure the robustness and usability of Stellar. Be the blockchain people know and trust. Foster and develop sustainable Stellar use cases.
This is an example of a company working with Stellar. They deliver equitable access to investment in emerging markets. Before they approached Stellar, the problem was that they could not yield more capital returns than their work. The solution to the problem was to create a platform to make micro-investing available to billions of people worldwide. Users from emerging markets have unprecedented access to blue-chip shares. DSTOQ makes investing accessible and affordable for everyone. They allow safe trading of assets on the blockchain under the safety of the European Legal Framework.
To know more about the latest technology and events in the entrepreneur world, do catch us on July 22nd for the second Road to TiEcon anchor event with Grand Keynote Speakers Amitabh Kant, CEO of NITI Aayog (Govt. of India) and Shellye Archambeau, Board Member, Verizon.
8ty6 is an AI Augmented MarTech platform and Digital Marketing agency. With a data-driven approach, 8ty6 provides the right combination of tech and marketing virtuosity with a plethora of sophisticated in-house marketing tools that amplify a brand. 8ty6 is the exclusive digital marketing partner for TiEcon 2020.