Jesse Lund and Michael Dowling have offered a small glimmer of hope for both Stellar Lumen’s holders and the cryptocurrency market as a whole, recently commenting on the progress of IBM’s Universal Blockchain Payments Solution – a blockchain and cryptocurrency infrastructure which is using the Stellar Network, and native cryptocurrency Lumen’s, to settle national and international business transactions.
We are still working through final legal and contractual efforts that will be scalable and repeatable. We are building the future of fin svcs so eliminating riddles is very important to us. Losing @michaeldowling wasn’t easy either but his efforts may help our collective cause.
— Jesse Lund (@jesselund) May 21, 2018
Within the tweet, Dowling states that the system is ‘technically ready to go’ with just ‘some legal items outstanding.’ Lund comments that ‘we are still working through final legal and contractual efforts…’ Interestingly, Lund goes on to say that ‘his [Dowling’s] efforts may help our collective causes’, presumably alluding to the top-secret development of FairX and potential collaboration with the new business venture – a huge development if true!
Whilst the IBM/Stellar relationship has attracted an almost equal number of fans and critics, an update of the final preparations for a corporate-grade global blockchain solution is certainly good news. With Bitcoin’s turbulent price action and potential liquidity issues within the market, confirmation of industry investment – and therefore an injection of significant capital – should hopefully have a positive effect on overall sentiment in the marketplace.
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