This project is an enigma. On the one hand, Stellar is not for profit, it doesn’t have owners or shareholders, and strives to be somewhat decentralized. On the other, Stellar is a compliance-focused protocol, and its directors often meet with shadowy organizations like the World Economic Forum. According to their website, the protocol seeks “to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered.” Fine, but, at what cost?
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According to the legend, Stellar is a Ripple fork. However, as you’ll see below, that’s not exactly true. Founder of the infamous Mt. Gox cryptocurrency exchange and co-founder of Ripple, Jed McCaleb, launched Stellar in 2014. Stripe financed the initial operation. Joyce Kim, a lawyer, is his partner in the venture.
The native currency of the whole ecosystem is called Lumen or XLM.
Stellar’s Mission And Approach
Securities.io interviewed the