Stellar, through the Stellar Partnership Program, has announced a partnership with Keybase. The partnership will enable Stellar fund projects initiated by Keybase. While Stellar is focused on moving money across borders in a quick and simple way, Keybase is mainly known for being a cryptographically encrypted security app used in file sharing and communication.
There are numerous ways through which the two entities can combine forces and create tangible game-changing products. One example in which they can do this is through linking digital identities cryptographically with real-world assets.
Say, for example, you would want to send money to your friend whom you know as Beefy on twitter. You can simply send them money using their twitter/social media account instead of having to get a long list of numbers as their address. Indeed this is the future of sending money and this collaboration sets the path to attaining this.
In summary, core issues that the Keybase – Stellar partnership is set to tackle are:
- Keybase will integrate features from the Stellar network into the Keybase Apps.
- Enable wallets to be used across multiple devices with little hassle.
- Enable users to send crypto from one user to another by just addressing them the way you know them. One doesn’t have to necessarily have to share their address as it is cryptographically encrypted on their social media profile.
As the team works on these, both platforms will be committed to updating and fixing bugs on their sites.
Stellar provides a viable option for ensuring that cryptocurrencies achieve their initial goal of ensuring cheap, quick payments across the globe. The platform is also working on launching the Stellar Lightning Network over the course of this year.
We are also seeing more ICOs opting to launch their crowd sales on this network. A good example is Mobius Network. At the beginning of the year, they managed to raise over USD 39 million using the Stellar Network. The main problem ICOs have with Ethereum and Bitcoin network is scaling.”We look at Ethereum like AOL or Myspace,” Mobius CEO said.
Keybase is a progressive platform made up of world-renowned developers. The platform raised over USD 10 million in series A funding in 2015. The platform seeks to ensure PGP keys move from just being used for security but cover a whole new range of services and applications.