In a rapidly advancing technological world driven by tools like blockchains and AI, many communities still struggle with age-old problems such as poverty, lack of access to clean water or electricity, and financial exclusion. While progress is being made, particularly through the United Nations’ Sustainable Development Goals (SDGs), certain regions, notably Africa and South America, continue to face challenges.
Despite living in a highly digital age, the gap between the privileged and the underprivileged appears to be widening. However, to address real-world struggles, real-world solutions are needed. This is where the potential of blockchain technology comes into play. Unfortunately, much of the blockchain space is currently dominated by speculative trading and abstract use cases that are detached from everyday realities.
This is where the Stellar Development Foundation (SDF) comes in. As a nonprofit organization supporting the growth and development of the Stellar network, SDF aims to bridge the digital divide by providing practical blockchain solutions to tangible problems that can help impoverished communities. With a specific focus on accessible financial services, SDF, through its support of the Stellar blockchain, aims to bring financial inclusion to the unbanked and underbanked populations worldwide.
The Stellar blockchain enables low-cost, near-instant cross-border transactions, which can be a lifeline for individuals in emerging economies. By doing so, the Stellar network not only showcases the potential of blockchain but also applies this revolutionary technology in ways that directly benefit people, especially those in disadvantaged communities.
Various companies and projects worldwide are already taking advantage of the Stellar blockchain. For example, Arf, a global remittance platform, utilizes the Stellar blockchain to offer regulated financial services, ensuring same-day settlements for financial institutions while maintaining transparency and traceability in transactions. Getpaid leverages the Stellar blockchain to enable seamless crypto payments, expanding global crypto payment options. Félix, in collaboration with Bitso, provides a WhatsApp-based payment platform, facilitating quick and affordable remittances for U.S.-based Latino immigrants to their families in Latin America.
These use cases demonstrate the Stellar network’s ability to support real-world solutions for financial issues, showcasing its potential to redefine cross-border transactions, business payments, and remittances with blockchain technology.
The Stellar Development Foundation’s mission has resonated with Idris Elba, a well-known actor with a significant humanitarian footprint. Elba’s partnership with SDF goes beyond a superficial endorsement; it is a shared vision of leveraging technology for real-world impact where it is most needed.
The latest campaign by SDF in collaboration with Idris Elba, “Where Blockchain Meets the Real World,” highlights the technological potential of blockchain and showcases its ongoing real-world applications.
During the Meridian Conference, an event focused on networking and opportunities for blockchain developers organized by the Stellar Development Foundation, Cointelegraph representatives had the opportunity to interview Idris Elba and SDF executive director and CEO Denelle Dixon.
When asked about his passion for humanitarian work, Elba shared that his background and experiences drive his desire to be a voice for those who are less privileged. He believes that technology should benefit humanity, and his partnership with SDF aligns with this principle.
Dixon explained that the Stellar Development Foundation is a unique nonprofit entity focused on creating equitable access to the global financial system. The foundation relies on builders who can craft ideas and solutions based on the problems they face. They provide open-source tools for builders to create their own solutions, empowering them to have control and ownership over the technology.
Elba chose Stellar because of its solution-based efforts and its potential for good ideas. Stellar welcomed him and educated him about the technology, allowing him to see its growth potential.
Elba also discussed the challenges faced by communities in Africa, where access to basic necessities like electricity and clean water can be limited. He emphasized the potential of connectivity and technology to empower individuals and communities, allowing them to participate in various business ventures and be connected to the rest of the world.
Elba shared a personal experience in Kenya, where farmers used Google Maps and weather systems to climate-proof their lives and work. He highlighted the innovative thinking and overlooked tools that can make a significant impact on people’s lives.
Dixon mentioned the Soroban smart contract platform as the main project they are working on, which opens up opportunities for builders and creators to access more tools and funding. The focus is on creating financial accessibility globally and empowering individuals.
In conclusion, the Stellar Development Foundation and Idris Elba share a mission to leverage technology for real-world impact and empower humanity. Stellar aims to create meaningful change in everyday lives by providing practical blockchain solutions to address financial issues and bridge the digital divide.