How Stellar Is Changing The World of Finance

MURFREESBORO, Tenn. - April 18, 2022 - PRLog -- Since Bitcoin's arrival in 2009, cryptocurrency and its associated technologies, uses, and impact on the way the world stores value and handles payments has been increasingly hard not to pay attention to.

A lot has happened in the crypto world and in the world of finance since Bitcoin's arrival over a decade ago. Concepts such as proof of work, the blockchain, ways to represent money and value, and the intermingling of economics and technology have been revolutionary.

The Stellar payment network is one of the most forward-thinking technologies developed as the demand for decentralized digital currency and trading systems has crescendoed. At its core, Stellar is an open-source, decentralized protocol for exchanging assets, pretty much all kinds of assets.

Founded in 2014 by the co-founder (Jed McCaleb) of another technology that continues to make headlines (the Ripple network and XRP crypto), Stellar's purpose and intent transcend and encompass most of what's happening in the crypto world.

Digitizing and Trading Value - Of Any Kind

Likely the most significant role played by the Stellar payment network is the ability of users to digitize value in the form of Stellar tokens that represent anything of value, from fiat currencies to bushels of wheat to consulting hours.

The Stellar network naturally converts between various currencies and other value tokens.

This kind of fluidity removes most of the existing friction associated with trading between people all over the earth. Wherever there is access to the internet, things of value can be traded much more quickly and securely as the Stellar network continues to pick up steam.

ISO 20022 Compliance
One significant boost to the impact Stellar will have on the world's financial condition is the adoption of the ISO 20022 standard, which will be rolled out to banks throughout the world beginning in November 2022.

Stellar's XLM coin is one of only a handful of coins (Bitcoin is not one) that is ISO 20022 compliant. As banks implement the standard, adoption of Stellar is very likely to accelerate.

To learn more about Stellar, visit: https://thetechnologyvault.com/stellar-payment-network/

To learn more about ISO 20022 compliant cryptocurrencies, visit: https://thetechnologyvault.com/iso-20022-network-ecosystem/