According to the Co-founder of the Stellar Payment Network and Chief Technology Officer, Jed McCaleb, who was interviewed on the last night by the Yahoo Finance, reveals that most of the financial and banking institutions will not use the BTC(Bitcoin),
With respect to the financial news division, McCaleb, who is also known by the name as the late Japanese Bitcoin Exchange Mt.Gox and the Ripple Co-Founder, also argued for the use of some of the open and unauthorized bitcoins in the field of finance.
He issued the sharply worded statement:
“It doesn’t need to be the Bitcoin blockchain, but if it’s not a public chain, then you’re missing the point.”
McCaleb also reveals some of the limitations of the cryptocurrency projects that were not even the Ethereum, Bitcoin and his own Stellar as well.
“Ninety percent of these projects are B.S. I’m looking forward to that changing,” he said when questioned about the future of cryptocurrency industry in 2019, continuing:
“Things like Tron, it’s just garbage. But people dump tons of money into it, these things that just do not technically work.”
TRX(Tron) has somehow also increase up its advertising efforts this year as a part of its alternative token platform of development to Ethereum with the CEO Justin Sun on a daily basis criticizing the network of Ethereum for its alleged shortcomings.
It has been skeptical that around one-fourth of the TRON user accounts. Moreover, for the McCaleb, there is no any such network of single cryptocurrency which is a comprehensive token that even includes the Stellar and with it’s in-house coin, XLM(Lumens).
McCaleb said “There are some things bitcoin is good at, some things Ethereum is good at, and some things Stellar is good at. And none of them can do all the things well. That’s just not how software works.”
In the month of November 2018, Stellar has also collaborated with the blockchain.com crypto wallet provider to expand the circulation and the usage of the XLM with the airdrop of $125 Million for the users.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.