CryptoCurrency : Visa-Backed Blockchain Firm Embraces Stellar Cryptocurrency Via Merger
Highly recommend reading this. If too lazy I took out important snippets to get a taste of the article.
– https://www.forbes.com/sites/michaeldelcastillo/2018/09/10/visa-backed-blockchain-firm-embraces-stellar-cryptocurrency-via-merger/#67f4937b74c2
> “All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, issuing assets on a local environment,” said Ludwin, who is CEO of the newly formed Interstellar. “By partnering with Stellar you can fire an asset to another institution.”
> Formally, the acquisition is being made by the for-profit branch of the Stellar Development Foundation, called Lightyear. The Chain and Lightyear brands will both be retired as a result of the deal. At launch, Interstellar will employ 60 people, with headquarters in San Francisco and offices in New York City.
> As part of the deal, Chain’s existing enterprise customers using its Chain Core software for permissioned blockchain—including Visa, Nasdaq and Citigroup—will now be served by Interstellar.
> Ludwin compares the permissioned blockchain environments running to Chain’s existing clients as a layer that will sit on top of the public blockchain platform created by Stellar and powered by the lumen cryptocurrency. A trading service expected to launch soon, called StellarX, for crypto-assets created on the Stellar blockchain, will also move under the Interstellar umbrella.
> Last year Visa announced it had launched the first phase of a B2B payments network powered by Chain, and Nasdaq and Citi revealed a separate joint project for cross-border payments using Chain. While Ludwin later said he had six similar networks in various stages of development …..
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Author: Light_of_Lucifer
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