Top 5 Reasons Stellar XLM will SUCCEED

cryptopigmedia (56)in #cryptocurrency • 5 years ago

In my last video we took a detailed look at Stellar XLM and what the project was all about but today we will be looking specifically at the top 5 reasons that Stellar XLM is going to succeed. For a detailed look at the pros and cons of the project click the link to my previous video on Stellar XLM. This video however we will be focusing just on the positive news surrounding Stellar over the last year.

So to find out the top 5 reasons that Stellar XLM will succeed let’s take a look….

So let's kick things off by jumping straight into the top list.

5. Iran’s government is issuing an official cryptocurrency called Paymon that is being built on Stellar’s network.

Details aren’t clear however as to whether the currency is officially being launched on Stellar’s token platform or if Ghoghnoos, the developers behind the project have cloned Stellars open source code much like Kin.

Now PayMon will be a stable coin backed by gold but this news if true is something of a double-edged sword. Iran is under heavy levels of sanctions imposed on it by the USA and the hope is that their own cryptocurrency could help them bypass those sanctions. Those who are crypto originalists will see this as a legitimate use of Cryptocurrency. The transfer of value without government interference or intermediaries is what Bitcoin was all about.

The trouble, however, is that PayMon is going to be backed by gold and is being developed by Ghoghnoos and four Iranian banks with the approval of the Iranian government. Investors will have to trust that the banks and the government really are backing the currency with real assets. This could be difficult to do seeing as Financial institutes in Iran had been selling Gold before that turned out to be a fake money laundering scheme.

The other concern, of course, is that the USA is already looking at how to impose fresh sanctions on Iran’s cryptocurrency efforts. If Ghoghnoos is able to develop PayMon as a truly decentralized cryptocurrency it may be difficult for the US to actually implement sanctions and controls against it.

The positive side of this particular story, however, is that because Stellar XLM is officially Sharia Compliant if PayMon is being built on the Stellar Network rather than it being a clone then XLM is going to be paired with it and potentially used as a bridging currency for PayMon. This is good news for XLM holders and with PayMon being pegged to gold there is a high potential for price appreciation.

4. Thailand is set to legalize Security token offerings giving companies a clear and understandable pathway to regulatory compliance.

While the USA’s SEC is still struggling to decide how it deals with ICO’s and crypto in general, Thailand has emerged as one the most interesting cryptocurrency and blockchain countries in the world.

This means that the Thai Securities and Exchange Commissions announcement that Stellar XLM is one of four cryptocurrencies that it has approved for use as a base trading pair in the country is fantastic news for token holders. XLM will in principle be used as a trading pair with the inevitable wave of new Security token offerings generated if the legalization of STO’s passes into law.

3. The Stellar Development Fund has released it’s updated 2019 roadmap.

It has some plans for this coming year that will have positive impacts on the Stellar project. I have linked the roadmap in the description below but here are some of the highlights.

Horizon is Stellars client-side API server that allows developers to connect their applications to the Stellar ecosystem and the Stellar Core. The SDK’s are for Javascript, Java and Go. Currently, some features of Stellar’s Horizon servers are only available to specific versions of the SDK. As part of their roadmap, the SDF wants to see improvements to the SDK’s that allows all three versions to fully utilize the Horizon server features making it easier and more accessible for developers using their preferred development language.

The SDF is planning to add more validators to the network by improving node management and performance, allowing a Stellar node to run on medium-range hardware. This should greatly improve the decentralization of the network.

There is also going to be an overhaul of the stellar.org website and blog as well as a reworking of the dashboard and laboratory tools making them more useful and effective.

The SDF has also pledged to increase its community and marketplace presence, to integrate community feedback into its development through a system called Core Advancements Proposals. The final promise is possibly the most needed one which is to increase clarity around the SDF’s lumen holdings and it’s distribution plans. This clarity will include a full accounting of the SDF’s projects, grants, and XLM holdings. Something that is long overdue and as I mentioned in the previous video something that has held a lot of investors off from investing in Stellar XLM.

2. IBM’s blockchain division has settled on using Stellar XLM as a cryptocurrency of choice for their payments infrastructure.

Jesse Lund, head of Blockchain Solutions at IBM, claims that they are “very, very close” to helping a central bank to move a fiat currency to the Stellar blockchain. IBM has partnered with many private and central banks in Asia and the IBM/Stellar partnership is looking to replace SWIFT. Of course, as I mentioned last time they will face competition from Ripple XRP and now JPM coin but IBM is developing effective toolsets that will make their World Wire solution an effective competitor in the space.

In a video interview with Crypto Finder, IBM’s Jesse Lund let slip some information that was possibly not meant to be public knowledge because as pointed out by Altcoin Buzz the whole section was cut from the video after being published. In the cut segment Lund stated:

“Let’s just say we’re gonna be supporting more than 50 countries out of the gate, 30-40 currencies, and enough market makers to drag along 30 or 40 banks. So we’ll have a significant portion of the world covered and our goal is to continue to expand that network and to provide global coverage within 3-5 years where you can actually send remittances in a consistent way, immediately, at a very low cost, from anywhere in the world to anywhere in the world.”

This is exciting news because Stellar Lumens were developed as a way to transfer value much like XRP but with a more consumer focus.

StellarX has been acquired by the Canadian crypto exchange platform Coinsquare.
In a Medium blog post by the StellarX team, they revealed the acquisition just last month. The full details are still undisclosed but it was revealed that in order for StellarX to continue along its roadmap it needed help from someone with regulatory experience and the expertise to drive the project forward.

StellarX was already in the top 3 decentralized exchanges within weeks of its launch and had seen tens of millions of dollars in trade volume early on. The only thing holding it back was volume and trade pairings, both things that a large platform like Coinsquare can resolve. The StellarX development team has all moved over to Coinsquare as part of the buyout and they plan to launch a StellarX mobile app, to add fiat pairings as well as security token offerings to the platform as they move forward.

This purchase is possibly the biggest news for Stellar XLM holders and will see XLM being paired with many more Cryptocurrencies and with much higher trading volume. The potential for StellarX and XLM is huge thanks to this move. StellarX has stated that they will one day have bonds, stocks, real estate, commodities, and so on all side-by-side with essential currencies on their platform too.

What are your thoughts on Stellar?

Do you agree with our top 5 reasons? Or do you see more flaws than potential? Is there other good bits of news you think we should know about? If so let us know in the comments below. We really like to hear your thoughts on the stories we run so please get involved.