How Stellar Blockchain Technology is Empowering Communities
- Idris Elba is working with the Stellar Foundation to bring real-world changes through blockchain technology.
- Earlier this year, the well-known actor was a guest at this year’s annual edition of the Meridian Conference organized by the Stellar Foundation.
The Stellar Foundation has made incredible strides this year through its Stellar network. Much of the work done on Stellar focuses on real-world changes that can be enhanced through blockchain technology. By focusing on real-world cases, the network is guaranteed of adoption by the masses. Some of the most notable developments were highlighted at this year’s Meridian conference. Furthermore, the foundation shared some future and ongoing developments such as its work with well-known actor Idris Elba.
During the conference organized by the Stellar Foundation, the filmmaker and actor shared his work and passion for humanitarian work. It is during his humanitarian work that the actor has recognized Stellar and the incredible work it is doing to create equitable access to the global financial system. Blockchain technology has emerged as a game-changing tool to modernize humanitarian efforts with Stellar spearheading these efforts.
Speaking on why he looks to tap into blockchain technology, he told Cointelegraph;
Blockchain technology can be used in these weird extremes, but actually, there’s this really good line that chimed with me and continues to offer so much growth potential for good ideas,
Speaking on why he chose Stellar blockchain specifically, he noted that, “Stellar was absolutely like the sort of welcoming hug, saying, come in and check this out. And I was not just told, hey, this is what could be in it for you, but educated from scratch.”
Elba spoke on technology playing a key role in humanitarian efforts. He highlighted the work going on in Kenya where farmers had figured out a way to use Google Maps and a weather system to calculate when rain might come and where there would be rainfall. This allows the farmers to better plan their work and predict their harvests. This allows the region to have greater food security.
For most of Stellar’s work in empowering humanitarian efforts, the network has focused on financial inclusion. One of its most notable products is its Stellar Aid Assist. This allows donors to disburse financial aid, in a timely, transparent, easy, and affordable way across the globe. The system was successfully deployed in Ukraine, helping distribute humanitarian aid to those affected by the ongoing war. Utilized by the United Nations High Commissioner for Refugees (UNHCR), it was able to distribute USDC stablecoin in a timely fashion.
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The Stellar blockchain is now working on the Soroban update which will introduce smart contracts to the project. This will bolster its case for mass adoption and see it compete with the Ethereum blockchain which remains the most popular smart contracts platform. The upgrade is already live on testnet with a launch on the mainnet expected in the coming weeks.