On March 8th, Stellar announced that they were working with Keynote. The partnership entails the creation of human-readable addresses in such a way that, it would be possible to send and receive stellar (XLM) using easy to understand usernames such as twitter usernames. Here’s what stellar posted in their blog at the time.
“We’re most interested in their ground-breaking effort to link strong cryptography to real-world identity. We see a future where, say, I can send my friend 100XLM, and, via Keybase, I can send it to her by knowing only her Twitter or Reddit handle. I won’t need some long string of digits as a key, just a human-readable username that I already know. In short, I can interact with her financially in the same way I interact with her socially. The end product would be like a global, decentralized Venmo, where you can send around every asset under the sun, not just your local currency—that’s where money is heading, and we want to get Stellar started along the path.”
The deal seems to be going on quite well. That’s because, from a look at the stellar module on the Keybase client app, there has been a high level of activity in the last 30 days as can be seen below.
Once the final product is released, it will have far-reaching implications for the future of Stellar (XLM). That’s because by simplifying the process of sending and receiving stellar, more people who will be in a position to use Stellar (XLM) for everyday transactions. There are lots of people out there who don’t understand how to use crypto addresses.
These addresses are a little bit too technical, and outside of the crypto community where most people are tech savvy, they can pose a problem to mass adoption. In essence, stellar is making the right moves towards adoption. It’s fully in line with Stellar’s goal of providing financial services to the unbanked. Someone who is unbanked in this day and age, obviously is not very tech savvy, and an easy to read address could go a long way in pulling them in. It’s something that could play a huge role to the future value growth of stellar (XLM).
Stellar’s future value growth will also come from the cross-border payments market where it is shaping up as a serious contender. Through the partnership with IBM, stellar looks set to have a huge impact in this market. The IBM partnership puts stellar in a good position because the blockchain world wire, which is based on stellar settles in both stellar (XLM) and fiat currencies.
These are all factors that place Stellar in a good position for growth in 2019 and beyond. For instance, once the human-friendly addresses become a reality, stellar (XLM) could see wide adoption for every day usage within a very short-time. This could see its value make a huge reap in value relative to the rest of the market. It has a good chance of pushing back above $1 and probably hit new highs in the next rally.