Stellar is a platform that connects banks, payments systems and people. By Implementing money to be moved quicker, safer and at close to no cost, Stellar is used by millions. Even though the project is often seen as an alternative to Ripple, it has other uses such as the decentralised exchange which will likely determine if Stellar succeeds or fails in the long-term.
When it comes to the team behind the project, Stellar has a troubled past which raises a few questions regarding its leadership. There are also worries about the centralisation and governance of the network.
Nevertheless, the fast pace of development and adoption, make it one of the leading runners in the blockchain infrastructure race. In addition, to a high level of awareness and community support within the crypto space.
With this in mind, Stellar needs to do more in the dApp area of things in order to keep in the competitive race with other comprehensive solution projects. Its low level of use case integration enables competitors to harden their network effect.
The potential of Stellar means it could disrupt numerous markets. With it being a payment solution, it can make an impact in the virtual global remittance space, which is expected to grow over $8.5 billion by 2025, and the contactless payment space too which is expected to grow to $801.4 billion in value during that same year. With more than 60% of the world’s population have a bank account, capturing a segment of this space shows a substantial chance for an increase.
There is also a possibility that a solution for the $1.7 billion unbanked people across the globe, even though its partnerships with popular remittance services such as Tempo and Coins.ph.
Stellar’s decentralised exchange solution makes the network a player in the crypto trading space too.
As reported by CryptoBriefing:
“With the use of gateways and token creation, Stellar could also penetrate traditional asset markets. This would be a much larger playground, as the total value of the global stock market alone was valued at over $77 trillion in 2017. Just in the US, an average of 18.7% of taxpayers across the country directly own stocks.”
It’s worth noting that we are not financial advisors and this is not financial advice. Investing in cryptocurrency is very risky, so only invest based on your own research and invest with money you can afford to lose, always remember to trade safe!
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