There are many cryptocurrencies in the market today and each has a special function in the user live. However, when Stellar Lumens (XLM) is mentioned, one thing comes to mind; a simple platform that connects the various banking units to a single system, a feat that can only be achieved by a stable system that keeps true to the blockchain technology fundamentals.
In real sense, the Stellar network adds value to the banking industry personalizing interactions between the institutions and the user and act as an enabler to move funds fast in a reliable manner with near zero transaction fees. The ecosystem is less than 8 years old and has gained more ground that banks that have been existence in the last 50 years.
What is making Stellar (XLM) the Natural Choice for the Masses?
Money remittance has always been out of reach for the ordinary consumer and the entrance of the various digital currencies has been competing for the marginalized niche that forms the bulk of XLM consumption. The platform has seen the under-banked get access to mobile ‘bank” branches that takes care of their micro-payment needs.
The banks have all the reasons to smile because with the Stellar ecosystem, they can now tailor make their payment systems to suit their infrastructural designs to suit individuals and institutional needs. The platform is user friendly and dApp creators are having a field day to come up with practical software and other tools to drive their businesses to the future.
Last but not least, Stellar seeks to use its team of professionals to give access to low cost transactions that cut down poverty level giving individuals the opportunity to built wealth and actualize their full potential. Not many digital coins are putting the consumer first as the ecosystem.
Partnerships Giving Stellar (XLM) a Global Outlook
One striking aspect about Stellar is partnership wealth; the selection of collaborations makes the platform stand tall among other market players. One of Stellar’s strategic partners, IBM has been awarded a contract by the Aussie government worth $750million. This is a move meant to transform Australia to an e-government using the blockchain technology.
If successful, the project will make the country rank among the top three e-governments not only to implement blockchain but AI and quantum computing as well. This is a huge plus for Stellar as it will play a major role ensuring the required liquidity is available throughout the project that will run up to 2025.
As if that is not enough the same government is set to start using the blockchain technology to deliver social security welfare and this will be achieved through using Stellar technology backed with IBM’s expertise. Stellar comes in handy to handle the real time payments to the micro level. This will increase demand for the coin, increase price and this will raise the XLM price by 350% by the time the projects are actualized.
Stellar must have been forward-planning when they purchased Chain using the XLM coins. This is a Fintech outfit that will add to the ever growing developer team that will be able to handle all the arising demands from the Australia government and IBM.
Stellar (XLM) Market Performance so Far
Though it is still early to speculate on the near future of XLM price, the last 24 hour trading session has seen the coin trade marginally in the green after gaining 1.32% to the dollar and 0.86% to BTC to trade at $0.205928. The gains could be the early signal for a major bull run but the general market might not let go north of a single coin.
The stellar (XLM) IBM collaboration is playing a crucial role in ushering in the bull-run early than expected. By virtue of Stellar network being used by the Australian government through IBM, investors are warming up to the coin and confidence and trust is creeping back to boost XLM price due to the utility role it is playing.