Stellar | Reasons why it will succeed
Stellar | Reasons why it will succeed

By Blockspectator | Blockspectator | 3 Apr 2019


 

Stellar (XLM) is the project of a non-profit organization called the Stellar Development Fund.

Stellar’s mission is to create a financial platform where individuals across the globe and in developing countries can access low fees, secure and easily accessible financial services.  The project is primarily designed for cross-border international payments.

So what are the reasons which will help Stellar contribute to being a successful cryptocurrency? These are as follows:

  • Stellar has already been confirmed as the first official Sharia-compliant This means XLM could prove to be very popular across the Middle East and would make sense for the countries to use it a bridging currency between transactions with Western nations.

 

  • While the US has been struggling to deal with ICOs and Security Token Offerings (STOs), the SEC in Thailand has been very proactive. Thailand has emerged as a country very crypto and blockchain friendly. There has been a recent announcement that the Thai government is looking to legalize STOs- giving companies a clear and understandable pathway to regulatory compliance. This means that the Thailand SEC’s report of XLM being one the four legally available trading pairs for STOs as very bullish for Stellar holders.

 

  • The Stellar Development Fund has released its updated roadmap for 2019, and this included plans which will be positive for the Stellar project, such as Horizon. This is Stellar’s client-facing API, and it allows developers to link their applications to the Stellar network. Currently, SDK is available in JavaScript, Java and Go. The problem with SDKs is that not every SDK has had all of the features available from the Horizon server. So depending on which SDK was being used, some features were unavailable that might’ve been available in other versions. As part of their roadmap, the SDF want all three versions of the SDKs to be able to make complete use of Horizon’s features- making it easier and more efficient for developers using their preferred development language.There’s also going to be a complete overhaul of Stellar.org and the development blog, as well as improvements made to the dashboard and developer tools- making them increasing friendly and useable.Even more significantly the SDF is promising to be more transparent about their actual XLM holding, the funding and how XLM will be distributed. This clarity will include a full accounting of the SDF projects, funds, grants and also its XLM holdings. This is something that has been a very strong barrier to potential investors in Stellar.

 

  • Stellar has announced a partnership with IBM. IBM has settled on XLM as their cryptocurrency of choice for their blockchain payment solution. IBM has stated they are very close to helping a central bank switch over from fiat currency over to the Stellar network. IBM has reportedly engaged in various banking partnerships in Asia, to further their Stellar partnership.

While these are reasons which state why Stella has excellent chances for success, there are some drawbacks- the most notable being that the project faces powerful completion in Ripple and the XRP token. JP Morgan’s JPM coin could also prove to be a competitor shortly, should the bank decide to adopt their stablecoin for outside organizations.

While the concerns do remain, they should not subtract from the overwhelmingly positive future Stellar, and XLM have in store. The IBM partnership if executed accordingly can prove to be a real game-changer for the industry.

Source

This article was originally publsihed on Blockspectator.


Blockspectator
Blockspectator

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Blockspectator
Blockspectator

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