Points in Time
Stellar Lumens at $0.11 on Mar 18, 2019
#IBM launches IBM Blockchain World Wire, a global payments network that facilitates cross-border transactions and foreign exchange in more than 50 countries. This cross-border solution utilizes digital assets on the Stellar blockchain. #WorldWire Here is the commercial - www.youtube.com/...cRKUA
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Overview of Stellar Lumens
Stellar Lumens (XLM) is an open-source platform that facilitates distributed payments. It links domestic banks and international with international remittances companies to ensure movement of money in a very efficient virtually free manner. It works more like PayPal but is more inclusive, cheap and of course reliable.
Its basic technology is the blockchain. A user communicates with XLM (Lumens) to get the Stellar integration started by uploading funds to an Anchor. The blockchain communicates at a frequency of about two to five seconds. The result is that XLM remains decentralized managed by people globally. Money can be sent globally in tandem with the domestic bank of the recipient and the amount deducted from the account balance of the user.
The low cost of remittance is excellent for those sending money back to their native families to support them. The convenience of fast and cheap services opens up the world of online finance for companies and individuals.
Founder: Jed McCaleb and Joyce Kim
Release Date: Early 2014