Categories
Crypto University

What is Stellar? Understand XLM in 1 minute!

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 computer. 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 and seconds no matter what bank they use back home and people all over the world.

You Stellar to send money to family 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.