Stellar (XLM) Announces IBM Partnership For Social Security Welfare with Australian Govt
Stellar Announces Major IBM Partnership
The massive price spike of Bitcoin in 2017 yielded several notable changes within the growing ecosystem of the blockchain. Perhaps the most innovative change to come from the significant movement is the introduction of hundreds of additional altcoins—coins that are not one of the major three cryptocurrencies. Though Bitcoin, Ethereum, and Litecoin had long dominated the space, other projects have continued to gain steam due to the rise in interest in the core tech behind them, the distributed decentralized ledger known as blockchain.
But the influx of new programs and ideas coming from the crypto community has not been all good. Even the United States Securities and Exchange Commission, the SEC, has considered regulating Initial Coin Offerings, a movement due in no small part to the prevelance of scams on the free market. Hundreds of coins have cropped up, promised investors innovation and untold profits, and then disappeared, never to be heard from again.
Consequently, the savvy modern crypto investor is constantly looking for outside verification of the validity of a project, and of the long-term viability of their investment. Gone are the days in which an investor only needed to peek at a comprehensive white paper on an ICO’s website to be assured that the project is not a scam. Now, the evidentiary standard for investors to pour their capital into new projects has never been higher.
Stellar XLM Coin
One project making headway in this department is Stellar, the company behind the XLM token. They purport to create a token that can resolve several speed and efficiency problems native to the blockchain used for the more popular Bitcoin. In theory, the product helps to solve several major scalability issues which prevent the more widespread adoption of Bitcoin to the masses.
The XLM coin has gained significant exposure in this past year, with thousands of investors coming forward buying the coin, and with several institutional recognitions and embraces from countries around the world. The coin continues to make progress in substantiating its goals and claims, but their latest move may be the shove the coin needs to hit the mainstream.
Rumors suggest that the payment infrastructure created by Stellar is teaming up with Keybase. The rumor was confirmed by both the company and the creator of the coin, Stellar. This partnership will be done with the purpose of making cross-border transactions quicker and more efficient for the users on both sides.
Investors are excited about this development. This latest partnership closely resembles the working strategy employed by Ripple, a for-profit company that created the XRP token to immense popularity. The difference, however, is that Stellar is a non-profit. This should help to garner even more interest in the ongoing partnership efforts.
Additionally, the company’s partnership with IBM has recently been granted over $750 million in contracts to create a blockchain infrastructure for the Australian government. As the company continues to grow, these partnerships will be integral to generating a kind of user-trust and investor faith that is desperately needed in this crypto state of affairs.