A report released on Thursday suggests money transfers in war-torn Ukraine. Stellar (XLM) altcoin It revealed a two-year study on the feasibility of leveraging its ecosystem and outlined a number of reasons to be optimistic about digital assets.
TASCOMBANK, Ukraine’s Rooted Bank, Experiments on the Stellar (XLM) Altcoin Ecosystem
TASCOMBANK, one of Ukraine’s oldest and largest banks, led the piloting behind the study. This work appeared at the request of several of Ukraine’s leading financial regulators and legislators in 2021.
The TASCOMBANK study, commissioned in part by Ukraine’s influential Ministry of Digital Transformation, identified a number of use-cases (compared to the TradFi banking system) for the circulation of “electronic money” via the blockchain Stellar, launched by Ripple co-founder Jed McCaleb in 2014 after his departure from Ripple Labs. .
The study revealed that Stellar has increased the security and privacy of customer data, with “high throughput” and much faster and much cheaper transactions.
Ukraine’s Deputy Minister of Digital Transformation Oleksandr Bornyakov said the Stellar study highlights a number of Ukraine-specific “key advantages” of real-world use cases for blockchain technology.
According to Bornyakov, Ukrainian regulators are considering the possibility of introducing additional permits for digital assets as a result.
But debate over whether Stellar is decentralized enough has continued since the network crashed for two hours in 2019.
Still, Stellar’s performance in the research is consistent with TASCOMBANK’s ever-increasing cryptocurrency Good news for trades. With regulatory approval, the bank has opened a number of new units focused on emerging TradFi applications for Blockchain technology.
*Not investment advice.
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