Blockchain Technology Reshapes Humanitarian Aid Distribution
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 12 hours ago
- Partnership Formation: The UNDP has partnered with the Stellar Development Foundation to leverage blockchain technology for enhancing humanitarian aid distribution efficiency, with plans to incorporate blockchain payments as a routine tool following nearly two years of field tests.
- Pilot Project Outcomes: Pilot projects across 17 countries have demonstrated significant cost efficiency, such as reducing distribution costs in Aleppo, Syria, from 10% to 2% in the 'Cash-for-Work' scheme, while achieving a 100% success rate for blockchain transactions in Haiti.
- Long-term Framework Development: The UNDP aims to establish a widely adoptable governance framework by 2027 to facilitate the transition from pilot phases to broader acceptance, ensuring the integration of Stellar technology with national initiatives to enhance operational management.
- Financial Technology Demand: With approximately 650 million people in Africa lacking banking services yet possessing smartphones, there is a growing opportunity for stablecoin usage, as both UNDP and Stellar aim to set global standards for blockchain payments in development programs by 2027.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for XLM
Technical Sentiment Analysis for Stellar (XLM). As of , Stellar (XLM) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XLM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XLM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Stellar (XLM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.123 | 0.146 | 0.17 | 0.193 | 0.217 | 0.24 | 0.264 |
| Fibonacci | 0.146 | 0.164 | 0.175 | 0.193 | 0.211 | 0.222 | 0.24 |
About XLM
Stellar (XLM) is a peer-to-peer (P2P) decentralized network created in 2014 by The Stellar Development Foundation or Stellar.org. The network officially launched in 2015 with the purpose of connecting the world's financial systems and ensuring a protocol for payment providers and financial institutions. The platform is designed to move financial resources swiftly and reliably at minimal cost. Stellar links people, banks, payment processors and allows users to create, send and trade multiple types of crypto.The basis of the network is its native digital currency - XLM or Lumens. XLM acts as an intermediate currency for operations and is also used to pay transaction fees. How it works: the protocol converts money in a few seconds, first into XLM, and then into the requested currency.The Stellar payment protocol is based on distributed ledger technology -- an open-source development, community-owned and distributed by community. The crypto asset of the Stellar platform helps with cross-border transactions, overcoming the problems of high fees and slow procedures. XLM is more focused on assisting individuals transfer money than they are with institutions. Thus, Stellar offers access to financial systems, and people can send money at low cost and promptly around the world.Moreover, Stellar serves as a decentralized exchange and marketplace, with a built-in order book that tracks ownership of Stellar assets. Platform users can manage buy/sell orders, as well as select and set their preferred assets in settlements. XLM is a built-in coin that helps reduce transaction fees.The network maintains a high level of security. XLM holders must have at least one token in order to remain active on the network. This nuance performs a global goal - the execution of network transactions efficiently and with minimal time costs. Plus, Lumens offers protection against flood attacks by making microtransactions too expensive for hackers with no chance of profit, which keeps Stellar Network safe from serious threats.The target audience of Stellar is the inhabitants of developing countries, ordinary users who are provided access to the global economy through fast, simple and inexpensive transactions. Stellar Network makes extensive use of Lumens to produce live convection as well as to send cash in multiple currencies; currency is sent from one peer, and the recipient can receive the amount in another currency. This feature is beneficial when a transaction is made between currencies without widely traded pairs.Support for multi-currency transactions is another competitive advantage of Stellar, and the ability for cross-currency transactions has only enhanced processes with foreign operations. Moreover, stable speed and low transaction costs are a privilege that users receive.This functionality is powered by a development called Anchors (a bridge between different currencies and the network), which simplifies the exchange within the network and helps speed up the whole process.In summary, the benefits of Stellar (XLM) include:
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
