Jed McCaleb and Joyce Kim created Stellar with a purpose. That purpose was to provide financial services to who they named “the unbanked.” This term was created to reference people who had no options for banking. These individuals had no way to safely save money, conduct international transactions, and write checks.
This idea came from the information Jed McCaleb had about cryptocurrency and his thoughts on how unfair the financial systems were. People who from the underdeveloped, less-privileged parts of the world had to resort to hiding their money in their homes simply because banks and similar institutions didn’t exist where they lived. Stellar has already made great progress in eliminating this problem by having their system implemented in these countries.
Stellar has created a method to use cryptocurrency and blockchain technology in order to exchange currencies and conduct transactions. This system can operate much cheaper than current transaction methods. It also operates much faster than normal methods. This is due to its blockchain coding, which utilizes a decentralized method of record keeping. Instead of relying on a bank to keep track of transactions and funds, Stellar’s records are kept on dozens of machines, storing identical ledgers on each machine. This is the system which makes all cryptocurrencies possible.
Stellar is quite different from other digital currencies though. Unlike bitcoin, Stellar doesn’t use data mining to create new coins. Stellar simply issues the coins, 100 billion coins at the creation of the organization, and new coins will be issued on a 1% inflation rate.
Ultimately what makes Stellar different from more wide-spread methods of banking is the elimination of expensive fees. Stellar doesn’t require paperwork, credit scores, deposit fees, transaction fees, or any hidden fees.
Stellar can’t operate alone. It needs organizations all over the world to implement the Stellar system. Recently, Stellar teamed up with Oradian to create a transaction system in Nigeria. According to The Gates Foundation, nearly one-quarter of the entire Nigerian population had no access to banking options; Stellar has done its part in helping Nigeria. 300,000 individuals in Nigeria now how access free financial transaction services.
Paul Mampilly is an American investor and a futurist. He is the senior editor of Profits Unlimited which he also founded. A platform he uses to guide average investors to venture in stock that is expected to shoot. Paul acquired his MBA in 1996 from Fordham University in New York. Paul also writes for Winning Investor Daily on a weekly basis. Additionally, he is also in charge of True Momentum at Banyan Hill Publishing and Extreme Services; both are trading services. Paul has served different financial institutions where he assumed many positions. He also acquired considerable experience which he now uses to assist the daily investor. Read more about Paul Mampilly at Talk Markets.
He founded Profits Unlimited, which is a financial newsletter meant to reach out to the daily investor who may not have much money but willing to invest. In a period of 2 year, the newsletter gained over 80,000 active subscribers making it the fast-growing newsletter due to its successful stock picks. Its massive growth led to naysayers calling it a scam. Paul Mampilly has continued to give successful predictions to the subscribers allowing them to make good returns of their invested monies. His top recommendations have seen higher profits; as high as 63% and 74%. This has made Paul to continue thriving in the business world.
The investment guru has received a number of awards including the Templeton Foundation Investment Competition in 2008 -2009 where he got first place. Paul Mampilly has also featured in the various business news including Bloomberg TV, Fox Business News, Reuters and CNBC just to mention a few. Watch videos on Paul’s Youtube channel.
Paul has encouraged investors to invest this year through an article written on Banyan Hill Publishing; he has recommended trades that people should invest in 2018. Paul gave insightful overview of stock tips. The article named the mega trends explains some of the key market trends. Fintech or financial technology is among the companies expected to generate better returns, such companies include mobile payment. The mega trends encourage investing in 2018. Using Paul’s tool one can quickly identify the companies that will stagnate the company going up.
The former hedge fund manager, however, states that the cryptocurrency bubble is going to crash. Although Paul can’t predict when the burst is expected, he empathetically says that in the near future people will lose their money. He gives an example of the 1999 stock bubble, where most investors were almost left without any investments after a great bubble that hit the stock market rally. Check: http://sovereignsociety.com/meet-the-experts/paul-mampilly/
The rate of technology is rapidly rising. Every decade something new comes up, and the least people can do, is embracing it. The surprise of the 21st century is the cryptocurrency system. It has been hard for many individuals to take in the changes in the market. It is only through the experts that they can get to understand the importance of the system.
Ian King is an expert of the cryptocurrency system. He studied a bachelor’s degree in psychology, but in the process of his schooling, he realized that he had an interest in trade and business trends. He, however, says that the phycology plays a huge role in convincing people on the importance of a commodity.
A cryptocurrency is a form of digital payment that helps you purchase products across the globe. It does need an intermediary. This makes it cheaper and more convenient than the mortal businesses. Follow Ian King at stocktwits.com.
Ian King writes for Banyan Hills. He majors in the education of the cryptocurrency system. He researches and enlightens the readers in the latest trend in the field. He also advises the firm on the buying and selling of the cryptocurrency. Ian King was hired for the job because of his deep interest in the field. Banyan Hills needed someone who was not simply reading about it but an individual who had been involved in the business.
Ian is very careful about what he publishes for his readers. He has to go through a systematic process to decide whether an idea is valid or not. First, he exclusively researchers on the project to come up with the best crypto idea. He first tries to see whether the centralized system can solve the problem that the crypto idea is solving. The other factor that Ian King considers when dealing with the cryptocurrency is whether the supply will lead to the currency deflating. He then reaches out to the provider to understand the whole structure of the system. After a detailed analysis, he discusses the findings with his colleagues and publishes the article for the readers to invest. He sees the idea come to life through the success of his readers.
Ian King says that he easily gets distracted by new ideas that come his way. He also says that he is not a process-driven person and he, therefore, needs a timetable to keep him updated and remind him of the tasks that he needs to accomplish in a day. Read more: https://www.investopedia.com/contributors/82716/