Stellar Lumens remitance

Stellar Lumens (XLM) Network Are Redefining the Future of Remittance Markets

August 27, 2020 Off By Maheen Hernandez

Interstellar is a company who are specializing in international payments on the Stellar Blockchain.  They help build products and services.  The latest excitement in the Stellar Ecosystem is about the Velo Protocol from the Velo labs and their partnership with Interstellar.

Stellar Retweeted:  “Interstellar and Velo Labs partner to build a platform leveraging the Stellar blockchain to help businesses deliver better financial services in Asia.”

Tridbodi Arunanondchai, Vice Chairman of Velo Labs expressed, “We are excited to see the value we can create for our partners and users.” 

Interstellar are going to provide Velo Labs with technical consultation.  The Velo protocol is set to provide efficiencies to several use cases both to large and small companies. From a technical standpoint, their key focus has been on designing a system which is flexible, scalable and reliable.

This is just one of the many projects stationed on the Stellar Network providing excellent use cases.  Anyone who is building on Stellar will enjoy the combined value of the Stellar Blockchain.

Velo Together with Lightnet are involved in the major remittance market and they are connecting a strong ecosystem of established companies.  They are innovating new methods of moving money faster and cheaper.

Sydney Ifergan, the crypto expert tweeted:  “Stellar Lumens (XLM) keep re-defining the future of the remittance market through their partners.  They in fact do a lot.”

Stellar Lumens (XLM) Key Management and Recovery

Anyone who are new to using cryptocurrencies need a good user experience to get beyond the misconception that cryptocurrencies are not reliable.

The important challenge faced by the cryptocurrency industry is key management and recovery.  Developers and businesses rely a lot on the end users when it comes to managing their cryptocurrency wallet accounts and transactions.

Per Denelle Dixon, cryptocurrency consumers are required to be more responsible in the current scenario when it comes to using blockchain technology, and therefore there is a need to “make blockchain technology more user friendly, simple, and familiar to drive towards greater adoption. “

Stellar are focusing on creating a solution which makes user “needs and experience” at the center of the product.

Denelle acknowledged the difficulty faced by first time users, particularly in situations when they are shockingly asked to note down a 56-character key.

Digital citizens know that “Writing down passwords is dangerous.” “It exposes you to risk.”  Regardless of all this, users feel that it is the best way when transacting in crypto. Thus, there is a great degree of skepticism when transacting in the blockchain space. Denelle expressed that the entire cryptocurrency space should collectively overcome this issue.