Fintech Impact

Jason talks to Denelle Dixon, CEO and executive director of the Stellar Development Foundation. Stellar is one of those coins that has been around for a while and has some very interesting use cases. 

Episode Highlights:

• 1.08: Dixon says that the stellar development Foundation is a nonprofit, non stock entity whose sole mission and soul focuses on developing the ecosystem around the stellar network and also shepherding the codebase for the stellar network.
• 4.33: There are lots of stable coins that are issued on stellar, and these coins are like USDC, and you can actually send the stable coin so that you don’t actually have to worry about any volatility in the cryptocurrency market itself, says Dixon.
• 8.25: The notion of having stable coins actually creates an opportunity for the stability so that you don’t actually have to worry that when you send a transaction, affirms Dixon.
• 9.03: Dixon says that we think about the financial system from where we sit, wherever that might be but it’s really hard to think about in certain countries.
• 11.34: Leaf global company has created the digital wallet that folks can use when they are crossing borders.
• 14.31: Blockchain is the fastest way to transfer money between countries with the least amount of fees and your vendors on the other side don’t necessarily need to understand that blockchain is how you got it to them because it just goes into their bank account. 
• 23.19: If you have the global network with the partners that create the on and off-ramps and then from there everyone can just build on it, and it can just grow. 
• 28.37: China is developing its centralized cryptocurrency for absolute control of their economy. They do have the great firewall that gives them the more potential than anyone else to actually shut something down.

3 Key Points:

1. The global remittance system is enormous. The amount of money crossing borders, whether it be people sending money to support people back home, or even for transactional purposes, is substantial.
2. Back in the old days of the Internet, you had a lot of Silicon Valley building for the world, and that’s actually not the way they should be. It always should be solving local problems with local solutions.
3. The beauty of blockchain is that it allows the local developers to look at the problems they see around them and fix them in ways that make sense for their communities and do so in a global network, says Dixon.

Tweetable Quotes:

• “We have come a long way, and we are now using the likes of a cryptocurrency that can transact the pennies.”- Jason
• “Blockchain creates the opportunity to truly have a global financial system that doesn’t exist today.” – Dixon
• “Not everybody does understand all the inner workings of how HTTPS works, and yet we still use the Internet every single day.” - Dixon

Resources Mentioned:

• Facebook – Jason Pereira’s Facebook
• LinkedIn – Jason Pereira’s LinkedIn
• Woodgate.com – Sponsor
• Denelle Dixon: LinkedIn | Website