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Tuesday, December 7, 2021

What is Stellar? (Lesson 1 of 5)

Today’s global financial infrastructure has a big communication problem. There are a lot of different currencies and a lot of different payment systems. Each one speaks a different language so they have a hard time understanding each other. Which makes moving money slow and expensive, and a lot gets lost in translation.

Stellar’s vision is to unite the world’s financial infrastructure so money can flow quickly and cheaply between banks, businesses, and people. The internet-connected the world’s computers so information could be shared globally. Stellar is doing the same for money.

To accomplish this vision and ensure integrity and neutrality, Stellar is not a bank or a business. Instead, it’s a decentralized, open network supported by a non-profit foundation that handles every currency, and speaks to every payment system in its native language.

That means businesses can move money globally in seconds, no matter what bank they use back home. And people all over the world can use Stellar, to send money to families overseas to convert one currency to another, or to make payments that are too small to cover fees traditionally charged by today’s institutions.

In the future, Stellar hopes that you won’t have to use traditional infrastructure to get your money where you want it to go. Instead, you’ll just use Stellar.

Read More: Top 10 Alternative Coins For Ethereum

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