Stellar has Partnered up with some of the Big Ones of the World for more Remittance Efficiency
Stellar is a non-profit organization that connects people to low cost Financial Services. Stellar satt together with Deliotte, one of the worlds largest Financial Consulting Firms and set up a Decentralized Remittance System that can Transfer Fiat Currencies for 40% less cost and within ~ 5 seconds.
Image Credit: Stellar
Not stopping there, they connected up with ICICI Bank. The biggest bank in India which is trying to Digitize the payment system in India after the Government took out the 500 and 1000 Rs Rupee currency notes from circulation. The next in line is the remittance licensed Partner Tempo . A European company based in Paris and up until now they seemed already fairly inexpensive to me, about 1.6% Fees.
Image Credit: Tempo
Flutterwave is an African based company with 21 Million users which also connected up to Stellar. Coins.ph is a Financial mobile service provider in South-East-Asia for the under banked. Clients using a Stellar wallet can send global remittances to anyone in the Philippines or from any institution within to the Stellar network. LeFinace a Chinese content provider also teamed up with Stellar to provide the users a faster and easier experience with online shopping.
Image Credit: coinmarketcap
Stellar is still a light weight in the Crypto Domain. It has a Market Cap. From $40 plus Million Dollars compared to the $12.5 Billion with Bitcoin. Both the Stellar payment protocol and the currency differ from BTC as there is no mining, but rather a node consensus network. The currency is inflationary in at the rate of 1% a year.
The Base Fee for Stellar cross-border-translations is currently 0.00001 (XLM) Lumens . With 1 Lumen allows you to make 100 000 transactions. I'm thinking of Micro-Payments.
The Banks are catching on to the Blockchain Technology and are using it also for their own purpose being safer, cost effective and time efficient.
- Comment : We Crypto-Fans can be happy to see that the work in progress is coming alone in the World of Finance, the problem of Fiat-Money and it becoming ever more worthless isn’t solved yet. The over indebtedness of Countries and the printing of Billions of USD/EUR/GBP/CNY/JPY continues and one is well advised to have some of your eggs in Steem/Bitcoin/ETH.
18:38 16 Dez. 2016
Stellar Lumens Platz 15, heute ein plus von 38.5%
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