Replies to post #322 on Stellar Lumens (XLMUSD)

[Investors3]

Akon’s DLT Startup to Set up a Blockchain Hub in Kenya in Q4 2020
HELEN PARTZ
JUL 06, 2020

A joint initiative of Akon’s Akoin and Dutch Effect.AI, the Kenyan Opportunity Hub will promote blockchain education and new work opportunities.

Akon, a famous Senegalese-American musician and a known blockchain supporter, is setting up a blockchain hub in Kenya.

Dubbed the “Kenyan Opportunity Hub”, the new venture aims to promote blockchain and artificial intelligence, or AI, education. They also hope to provide Kenyans with more work opportunities.

First African blockchain hub launched by Akoin and Effect.AI

A joint initiative of Akon’s blockchain startup Akoin and EOSIO-powered project Effect.AI, the hub is set to launch in Q4 2020 and will be the first initiative of its kind in Africa, the companies announced to Cointelegraph on July 1. The project will be handled by Akon’s philanthropic arm, the Akon Foundation.

The Kenyan Opportunity Hub will be the first African blockchain hub in a series of so-called Akon-Effect Opportunity Hubs. At these hubs, people will be able to access AI and blockchain-related education as well as online work paid in cryptocurrency on Effect.AI’s blockchain platform.

According to a joint announcement, the hub is likely to be located near Mwale Medical and Technology City, a project run by United States engineering firm, KE International. By building the hub close to Mwale, the creators intend to unlock more work opportunities like tech-powered medical record translation.

Effect.AI runs a similar hub in the country of Georgia

As announced, the Kenyan Opportunity Hub will benefit from the experience of a similar Effect.AI’s hub that is already operating in Rustavi, Georgia.

Launched in partnership with the United Nations Development Program in 2019, the initiative seeks to boost industry job opportunities and promote tech knowledge. Headquartered in the Netherlands, Effect.AI project is a decentralized AI network operating on the EOS blockchain.

Cointelegraph reached out to Effect.AI and Akoin to find out more about the Kenyan blockchain hub initiative. This article will be updated pending any new information.

Akon’s “crypto revolution” plans

News of the Kenyan blockchain hub comes soon after Akon was awarded a $6 billion contract to build a cryptocurrency city in Senegal. The project envisions the construction of a “100% crypto-based city” featuring Akon’s Akoin cryptocurrency.

Akon’s ambitious plans on pushing mass adoption of blockchain technology in Africa is part of his long-running African “crypto revolution.” Alongside plans to build crypto cities and hubs in Africa, Akon is also planning to issue his own cryptocurrency to enable the tokenized trading of mobile phone credits, which are used as a currency in Africa.

The upcoming token, known as Akoin, is planned to be issued on the Stellar blockchain. The utility token will power “atomic swaps” between crypto, fiat, and mobile phone credits on the Akoin network.

[Investors3]

Stellar Lumens shows strong growth in Q2 2020
By COLLIN BROWN

https://www.crypto-news-flash.com/stellar-lumens-shows-strong-growth-in-q2-2020/

* Despite the ongoing corona pandemic, the Stellar Development Foundation
has hired 10 new employees to help drive the further adaptation of XLM
and the ecosystem.

* In addition, a comprehensive network expansion with protocol 13 was
implemented, which contains important new functions.

The Stellar Development Foundation (SDF) published a new quarterly report a few hours ago about the current progress of the project in the second quarter of 2020. The Stellar developers have initiated numerous innovations, but the community has also made a valuable contribution to the development and adaptation progress through numerous donations and assistance.

10 new employees and major update with Protocol 13

The quarterly report states that a major network expansion, released with the release of Protocol 13, introduced important new features such as a fee increase, more detailed asset authorization control and multiplex accounts. Stellar has invested in promising projects that use XLM and are helping to spread and increase acceptance.

These include the wallet provider Abra, which has more than 3 million active users worldwide and is constantly growing and attracting new interested parties. Stellar has also invested in SatoshiPay, which provides a platform for instant transaction processing across national borders. Like Ripple, Stellar offers the ability to process transactions in near real-time at a low cost of just a few pennies.

The SDF has also increased its media impact and in recent weeks has held more than 20 virtual conferences and events and participated in 8 additional crypto-conferences. In addition, a strategic partnership with the World Economic Forum has been established. The goal of the cooperation is to promote the acceptance of digital assets such as XLM.

The number of transactions carried out in the second quarter compared to the first quarter of 2020 rose by 38.70% from 9,570,121 to 13,282,383. This shows a significant increase in the use of the Stellar Blockchain and a strong growth, also compared to last year. Furthermore, the daily trading volume on Stellar’s decentralized stock exchange (DEX) has increased from 3,4490,422 to 5,940,311 and thus by more than 70 %. The following diagram shows this development in detail.

The published data show that the average transaction time of 5.5 seconds is at the same level as in the first quarter of 2020, which describes that transactions are confirmed on average after 5.5 seconds, meaning that XLM has arrived in full at the recipient’s disposal and that the recipient can dispose of it.

SDF has partnered with ofFinclusive to provide compliance services and will monitor the Stellar network. In May, Stellar also developed a boot camp app that allows users to trade play money and introduces them step-by-step to trading and handling cryptocurrencies.

Coinqvest has integrated Stellar into its own platform in order to be able to process payments quickly and cheaply via the Stellar blockchain. Stellar has also entered into a partnership with Elliptic to provide custody solutions for institutional investors. SDF is satisfied with the current developments and is optimistic about the future.