Blockchain
Stellar Development Foundation and MoneyGram Partner with Techstars to Spur Innovation on Blockchain-Based Cross-Border Payments
Stellar Development Foundation and MoneyGram International, Inc. (NASDAQ: MGI) announced a new partnership with Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for entrepreneurs. The program will recruit founders across the world who are focused on driving technological innovation in areas such as blockchain and digital payments to further streamline cross-border payments and support financial inclusion.
The accelerator will specifically target technologies that facilitate the movement of money to and from Latin America. Each year for the next three years, the program will select a class of up to 12 fintech startups to participate in an immersive 13-week program where entrepreneurs will work with mentors from Techstars, the Stellar Development Foundation, and MoneyGram to solidify their value proposition and product-market-fit. At the end of each class, the participants will present their progress and vision to a curated group of investors and key stakeholders in the fintech community on Demo Day. Applications for the first class of startups will open on Monday, July 25, 2022, and the deadline to submit applications is Wednesday, October 12, 2022.
“Blockchain and digital assets are changing the cross-border payments process, enabling people to almost instantly and cost-effectively send money internationally,” said Denelle Dixon, Stellar Development Foundation CEO and Executive Director. “We believe that we can improve access to the financial system for all participants, and we’re proud to work with MoneyGram and Techstars to empower the next generation of innovators to build a more inclusive and accessible cross-border payments system that takes full advantage of 21st-century technology”
This partnership builds on the previously announced collaboration between the Stellar Development Foundation and MoneyGram to bridge digital and local currencies.
“We’re excited about this latest expansion of our partnership with the Stellar Development Foundation as we look to further accelerate our strategic goals to lead cross-border payment innovation,” said Alex Holmes, MoneyGram Chairman and CEO. “As the fintech landscape rapidly evolves, we’re committed to utilizing our combined expertise in global digital payments, blockchain, and compliance to uncover new opportunities for global customers and enhance the existing financial system. Partnering with startups through our new relationship with Techstars will further support our innovation efforts and ultimately benefit consumers around the world.”
“At Techstars, we believe great ideas are everywhere, but access to opportunity is not, which is why our global-investment model is to reach founders anywhere and everywhere,” said Maëlle Gavet, Techstars CEO. “As we look to reach founders in the Americas, this program will provide early-stage blockchain and digital asset innovators the advantages and resources they need to succeed in building an inclusive, accessible financial system, and deliver world-changing solutions.”
With the majority of Latin Americans either unbanked or underbanked, this region is uniquely primed for digital finance adoption. Both the Stellar Development Foundation and MoneyGram have deep roots working in Latin America, with an established ecosystem to help new entrants succeed with connections and mentorship. The Stellar network’s growing ecosystem and MoneyGram’s well-established presence in Latin America, one of its largest remittance corridors in the world, present a unique opportunity to effect change in the region. The new accelerator program aims to tap into the growing group of developers of financial technology and to provide a path to build locally-inspired solutions.
The Stellar Development Foundation, MoneyGram and Techstars will officially launch the program in Austin at SXSW.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
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Blockchain
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