Why Is Stellar So Important for the Market? Here are 12 of the Most Interesting Projects
There are different cryptocurrencies and blockchains that are offering good services for companies to start building on top of them, and Stellar is one of these networks. Even though Stellar was never designed to compete against Ethereum or support different applications, it has been attracting many companies in the space that are working with it.
The platform is recognized for being transparent and stable, and this is something that sometimes, Ethereum does not have.
IBM And Its Universal Payment Solution
IBM is one of the most important technology companies working with blockchain technology, and it has decided to use Stellar Lumens (XLM) as unit of account for payments infrastructure.
At the same time, the company has partnered with different central banks all over the world, with a focus in the Asia-Pacific region. These institutions are trying to move fiat currencies into the Stellar Blockchain reducing costs and improving overall experience.
The Stellar network will also experience an increasing number of assets besides XLM. Of course, this can be harmful in the long term for XLM’s price, but it will make more effective tools available. IBM is working in order to create the most innovative solutions in this platform.
This is another famous company that is working so as to tokenize the global carbon credits market. Veridium has signed a partnership with IBM and Stellar with the intention to integrate their token (VERDE) with oil and gas trading platforms. This would help the company automate the process of offsetting carbon emissions.
It is important to mention that when a company or individual makes a purchase, they can also purchase a corresponding amount of carbon credits and offset their activities. Furthermore, for other institutions it could be a certification of carbon neutrality.
In the future, the company wants to integrate the system with debit cards and offer them to ecologically minded individuals around the world.
This decentralized exchange may become the first peer-to-peer platform in operating on the Stellar Network. The main intention is to make the exchange user friendly and help bring more users to decentralized marketplaces.
Stronghold wants to become Stellar’s first USD anchor. At the moment, the company accepts deposits in US Dollars and can issue tokens on the Stellar network.
The firm is working with PrimeTrust so as to secure funds. This increases transparency and accountability at the time of managing fiat deposits.
This is a very important development because it can work as a counterbalance to volatility in the crypto market. Stronghold could fill some of the needs that Tether (USDT) has been fulfilling in the past, the main difference is that Stronghold is not involved in controversial situations, at least until now.
Tempo is an important money transfer company located in Europe that has decided to transition to the Stellar network. Those who want to use the Tempo network using Stellar can do it using a Stellar wallet.
At the moment, the team behind the company is testing the service in the Philippines, one of the biggest remittance markets around the world. Once funds are sent to the recipient, they will receive a notification that will allow them to select whether they want the funds to be delivered to their door in the local currency or if they want to pick them up at a location near them.
The partnership with Stellar may be very important, making Stellar the largest real-world network. Tempo is now located in 300 different locations across Europe. Those who download the Tempo app can also purchase Stellar directly with their phones.
Satoshi Pay has been created as a micropayments platform for web content that is based on the Bitcoin network. After it they migrated to the IOTA ecosystem and now they are working on the Stellar Network.
Users using the network can pay just a few cents to view or download content. The widget does not even require users to install a plug in wallet or something similar. This may be very helpful for content providers and consumers.
If the market grows it can help the Stellar network to grow, expand and reach a bigger audience all over the world.
Open Garden in the Stellar Build Challenge, which is organized by the Stellar Foundation and awarded to the best participating projects. Open Garden allows users to turn their phones into wifi hotspots and get paid in lumens for the amount of data used.
This may not be a very good idea in the European or North American market, but there are some countries in which individuals struggle to pay for a monthly data plan. At the moment, there is a beta available in the Google Play store.
TillBilly is working in order to build a smart point-of-sale payments system based on the Stellar Lumens network. The main intention is to make digital payments much cheaper today than methods such as Apple pay or credit and debit cards.
Additionally, TillBilly gives you a digital receipt system that could solve this problem.
The real estate market has also entered to the Stellar network. And indeed, it has seen a steady growth in the last years.
More individuals are starting to support virtual currencies, and in some way they do believe that portfolio diversification is very important. Additionally, people are also going international to avoid taxes on their virtual currencies.
And yes, it is difficult to buy real estate in new countries that may have different regulations than other places. This is why Slice is tokenizing the real estate market in the United States in order to allow smaller investors to have access to projects that were only available to institutional investors.
This is also an important and established remittance company that is used in many African countries to send and receive money. Sure Remit has now joined the Stellar Network, and it is able to connect countries such as Nigeria, Kenya, Rwanda and more.
Currently, the biggest remittance market in Africa is Nigeria, with an estimated of $20 billion dollars sent home each year by those Nigerians that work abroad.
Trying to tokenize everything, Smartlands is working in order to select high quality agricultural land and tokenize it on the Stellar network. This is very important for the cryptocurrency economy. Due to the fact that virtual currencies grow, it is a matter of time before distortions appear in the fiat economy.
Stablecoins are very important in a growing crypto world and they will be needed more and more as time passes.
It is important to mark that Smartlands is going to prepare a selection of tokenized agricultural lands to have an optimal stability.
If fees were a problem, Chynge solves that problem in a very easy way, no more fees for remittances. At the moment, the company has sandbox licenses in Brunei, the United Kingdom, hong Kong, Singapore and the UAE.
At the moment, the company is leveraging AI and machine learning to monitor risk profiles and avoid the network to be used for illegal purposes. This will also help the cryptocurrency market worldwide.
These companies working and prospering in the Stellar network have contributed to the growth of XLM in the last months. Indeed, it was able to surpass a very important currency (Litecoin) in the virtual currency market.
It seems that Stellar was able to find a scaling solution before Bitcoin (BTC), and Ethereum (ETH). This is very positive for the whole market.
Additionally, the selection of projects on Stellar is not as toxic as in Ethereum. And in fact, Sellar never worked in order to become a world computers like Ethereum.
Stellar has a simple programming language for projects. Furthermore, that means that there are fewer attack vectors and less time needed for security audits.
If just half of these project achieve half of their goals, then it is likely for stellar to reach new all time highs.