Ukraine gov picks up XLM (stellar) to build their own digital currency

[DIA7]

According to Yahoo Ukraine government have chosen stellar to build their own central bank digital currency (CBDC).

The ministry of Digital transformation for Ukraine signed with Stellar Development Foundation to develop a private version of Stellar Blockchain technology.

The Ukrainian government have been monitoring and preparing for this move since 2017. This news will be impacting the value of Stellar in the future and it's a step forward for them to beat Ripple as a future of international payments and transfers.

[smajler]

One day I was watching a material which stated that xrp is to be linked with gold and xlm with silver.

[milewilda]

Any source for this one? Oh i found it.

https://www.coindesk.com/ukraine-government-picks-stellar-to-help-build-national-digital-currency
https://finance.yahoo.com/news/ukraine-government-picks-stellar-help-140028973.html
https://www.ledgerinsights.com/stellar-blockchain-ukraine-central-bank-digital-currency-cbdc/

This is a good news to those people who do still holding off their stellar upto this moment.

[ololajulo]

When I saw the news I also wonder why the choice of blockchain? why the need for such anonymity? XLM has its headquarter in San Fransisco but team member can be from Ukraine. I hope cross chain exchanges can improve to provide market for some of these anonymous coins. Ukraine also has many top hackers, they might prefer the anonymity provided by the blockchain for their currency.

[24Kt]

When I saw the news I also wonder why the choice of blockchain? why the need for such anonymity? XLM has its headquarter in San Fransisco but team member can be from Ukraine. I hope cross chain exchanges can improve to provide market for some of these anonymous coins. Ukraine also has many top hackers, they might prefer the anonymity provided by the blockchain for their currency.

So this means, crypto exchanges under this country will never delist XLM in their platform. As many are worried about these privacy coins to be delisted, this one on the other hand, is being utilized by their government themselves. So this may be a boost to those who are bothered by the news that exchanges will soon delist privacy coins.

[cryptoperkele]

I am honestly little skeptical with this. Sounds lot like "Banks are using XRP" again.

I am pretty sure that they are looking into XLM and other platforms too, but i would like to hear an opinion from someone native actually living in there. I mean correct me if i am wrong but i don't think that XLM is build for this or would offer necessary requirements needed for CBDC. Compare XLM to what Dusk Network is building for example.

I however might buy XLM because of the fomo effect.

[DIA7]

I am honestly little skeptical with this. Sounds lot like "Banks are using XRP" again.

I am pretty sure that they are looking into XLM and other platforms too, but i would like to hear an opinion from someone native actually living in there. I mean correct me if i am wrong but i don't think that XLM is build for this or would offer necessary requirements needed for CBDC. Compare XLM to what Dusk Network is building for example.

I however might buy XLM because of the fomo effect.

Xlm is a proven coin that is more open and decentralised and more open then many other coins.
Unlike XRP that is trying to prove to the SEC that they are not a security but a coin. Stellar may looks to be a fork of Ripple but it's built on their own unique base code despite the similarities between them and ripple and stellar is Non profit organisation. While Ripple mostly deals with banks and gain what is they're looking for. So Stelar a more trustworthy then ripple.

[Coyster]

I don't know how good of a news this is, especially for users whose only interest is in decentralized and transparent cryptocurrency, for those who've done their research on CBDC's, you'll know they are going to be very centralized, controlled and manipulated by the government and central banks, it's a bit unsettling that Stellar is going be creating this centralized coin for Ukraine, there could be more shady things to this alliance that we'll find out with time.

This news will be impacting the value of Stellar...

I think so, the news will definitely allure more people to Stellar and investors could see this partnership as an indication of an appreciation in price, which could well happen cause of the demand it could be getting soon.

[tvplus006]

According to Yahoo Ukraine government have chosen stellar to build their own central bank digital currency (CBDC)...

This is good news, because according to the statement of the National Bank of Ukraine in 2019, it was decided to stop the development of the national digital currency for an indefinite period. But obviously all this time negotiations with the interested parties of this process continued.

[Kupid002]

One day I was watching a material which stated that xrp is to be linked with gold and xlm with silver.

Can you link where you've watch it? I want to heard more details information with that videos.

To OP its a good news for all crypto not only in stellar but stellar will greatly benefit from this event since they are the one who will use by Ukrainian government once its started they can now use digital currency in their country and it will be easier for their citizens to use their money onlin or offline.

[cryptoperkele]

Xlm is a proven coin that is more open and decentralised and more open then many other coins.
Unlike XRP that is trying to prove to the SEC that they are not a security but a coin. Stellar may looks to be a fork of Ripple but it's built on their own unique base code despite the similarities between them and ripple and stellar is Non profit organisation. While Ripple mostly deals with banks and gain what is they're looking for. So Stelar a more trustworthy then ripple.

Sure, but what i was talking merely about the fact that most of these announcements are just about experimenting with the blockchain, it doesn't mean that governments will end up choosing them, especially when they lack any privacy. But XLM has instant settlements so i'll give them that. I guess we shall see.

[maxreish]

They are still planning, which means it can still change. However, stellar is a good choice. If it will be finalized and Ukraine will choose this coin to build their own coin, I don't think there will gonna be conflict in the future. Since stellar provides an open source platform for payments which means it will have a smooth transaction and will benefit their country, too.

[TastyChillySauce00]

One day I was watching a material which stated that xrp is to be linked with gold and xlm with silver.

It looks like that's a wrong statement. That must be the stellar to be the gold and XRP to be a stone as it's worth nothing compared with stellar. XRP offers nothing and stellar is a bit better than XRP consider it has smartcontract combined with scalable chain but it's not so good as another chain too.

[Gatsby club]

Guys, do you think this news could provoke a 27% growth in Stelar cryptocurrency yesterday?

[republicrypto]

According to Yahoo Ukraine government have chosen stellar to build their own central bank digital currency (CBDC).

The ministry of Digital transformation for Ukraine signed with Stellar Development Foundation to develop a private version of Stellar Blockchain technology.

The Ukrainian government have been monitoring and preparing for this move since 2017. This news will be impacting the value of Stellar in the future and it's a step forward for them to beat Ripple as a future of international payments and transfers.

if this true, i think xlm price will spike up in the near time,,
because this news will create a lot of demands on stellar, maybe now can be the best time to buy xlm
regards

[Roidz]

maybe this will have a positive impact on the current economic development of Ukraine, especially after the economic inflation that was quite large last year so that it triggered the Ukrainian government to take the right steps now, I think the collaboration between the Ukrainian government and XLM aims to build a legal framework that will offer a transparent and stable regulatory environment for blockchain and crypto thus enabling any crypto developer to obtain legal protection in the country.

[DIA7]

According to Yahoo Ukraine government have chosen stellar to build their own central bank digital currency (CBDC).

The ministry of Digital transformation for Ukraine signed with Stellar Development Foundation to develop a private version of Stellar Blockchain technology.

The Ukrainian government have been monitoring and preparing for this move since 2017. This news will be impacting the value of Stellar in the future and it's a step forward for them to beat Ripple as a future of international payments and transfers.

if this true, i think xlm price will spike up in the near time,,
because this news will create a lot of demands on stellar, maybe now can be the best time to buy xlm
regards

Good morning, according to coinpaprica XLM price is $0.264 right now that is it made 56.16 % in 24 hrs, IMO, not bad start to $1 promised by McCaleb a few years ago. And you are right, if Stellar and Ukraine will cooperate we witness that $1 eventually. Reportedly the work of SDF in Ukraine will officially start in August 2021 

Yep XLM today is skyrocketing it gone from 0.17$ to 0.42$ and now it's down to 0.31$ with 72% gain it's pretty good for one day. This made them value more then their counterparts XRP who have seen gain but they are worth less then XLM with 1 ripple values 0.25$.

When I was writing this topic I wanted to invest some in XLM but I saw that they were valued 0.13$ already rising didn't think it will go this high. Should have gone with it.