Transcripts

Ella Qiang's Talk at Cryptominded Meetup

Post by
Kyle McCollom
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Ella Qiang - Director of Partnerships at Stellar - gave an overview of Stellar at a Cryptominded meetup and offered some new ways of explaining some features of Stellar. Watch the video here.

An easy way to (and admittedly not the best example of) understanding anchors is Tether:

Stellar is a platform that any entity can issue a token on the Stellar ledger. We call those institutions anchors. The anchors are usually financial institutions. For example, let’s say Bank of America is an anchor on the Stellar network, and they issue USD - “Bank of America USD” - on the Stellar network. Alipay can be the Chinese Yen Stellar anchor on the same network. So they are the bridge linking the real world and the Stellar digital world and can digitally represent currencies and assets. A good comparison that has helped people understand is you can think of it as Tether. It is not a great example, but is works in a similar way. Eventually, as the network grows you probably would have say Tether issuing USD on Stellar and you have Chase Bank issuing USD on Stellar.

Central banks as the highest tier of fiat anchor credibility:

I personally believe you would have central banks issuing their fiat currency on the same ledger. I believe that those would be the ones that have the highest credibility.

SDF hasn't done a good job of marketing the Stellar DEX capability in the past:

I would say that probably we haven’t done a great job in the past of marketing Stellar as a decentralized exchange until last year when all these new ICOs came up and the DEX became a very innovative idea. Our system has been up and running for 3 years, and that is how cross border and cross asset transactions are facilitated.
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