Blockchain.com Wallet Adds Stellar, Announces $125 Mln XLM Airdrop to ‘Drive Adoption’

Cryptocurrency wallet provider Blockchain.com has launched full support for altcoin Stellar (XLM), accompanied by a hefty airdrop of $125 million worth of XLM to its user base. The news was announced in an official blog post today, Nov. 6.

Blockchain.com pitched the mammoth offering as “the largest airdrop in the history of crypto and likely the largest consumer giveaway ever,” suggesting that airdrops are “a great way to drive decentralization and adoption for new networks.”

The firm underscores that the benefit of crypto airdrops for consumers are that they are able to “test, trade, and transact” unfamiliar crypto assets without having to mine or invest first.

Blockchain.com gives the rationale for its choice to launch support for Stellar as being due to the token’s network being “built for scalability,” as well as for its provision of the ability to create custom tokens that represent “real-world or virtual goods and services.”

Prior to adding Stellar support, the Blockchain.com wallet already supported three other cryptocurrencies, Bitcoin (BTC),  Bitcoin Cash (BCH), and Ethereum (ETH).

As of press time, Stellar (XLM) is ranked sixth largest cryptocurrency by market cap on CoinMarketCap’s listings, seeing a strong 5.35 percent growth on the day, trading at $0.258.

In late September, Cointelegraph reported that Blockchain.com had been ranked within the top ten most “sought-after” U.K. startup employers in new listings on LinkedIn. Among its attributes, LinkedIn noted Blockchain.com’s “benefits such as free food and flexible working,” unlimited holiday policy and a bonus scheme for employees paid in Bitcoin.

Airdrops have recently made headlines in less auspicious terms, with China’s stringently anti-crypto central bank, the People’s Bank of China (PBoC), announcing it would be widening its regulatory scrutiny to include token airdrops, which it characterized as “disguised” Initial Coin Offerings (ICOs) in its 2018 financial stability report.

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PwC: Regulatory Uncertainty and Lack of User Trust Inhibit Blockchain Adoption

Regulatory uncertainty and trust are major barriers to blockchain adoption among businesses, according to a study released August 27 by ‘Big Four’ auditing firm PricewaterhouseCoopers (PwC).

A new study entitled “Blockchain is here. What’s your next move?” conducted by PwC examined 600 executives in 15 countries on their development of blockchain and opinions about its potential. The countries participating in the survey included Australia, China, Denmark, France, Germany, Hong Kong, India, Italy, Japan, Netherlands, Singapore, Sweden, the UAE, the U.K., and the U.S.

Respondents ranked regulatory uncertainty, lack of trust among users, and ability to bring a network together as the top three barriers to blockchain adoption. Blockchain leader at PwC, Steve Davies, said:

“Businesses tell us that they don’t want to be left behind by blockchain, even if at this early stage of its development, concerns on trust and regulation remain. Blockchain by its very definition should engender trust. But in reality, companies confront trust issues at nearly every turn.”

According to the study, four in five executives worldwide, which represent 84 percent of respondents, have blockchain initiatives in progress, 25 percent of which have fully live blockchain implementations or launched pilot projects.

46 percent of respondents identified the financial sector as the leader in terms of blockchain development in the next three to five years. Respondents also identified sectors with emerging potential for the same period of time as energy and utilities (14 percent), healthcare (14 percent), and industrial manufacturing (12 percent).

The U.S. and China were identified by respondents as leading markets for blockchain development, polling at 29 percent and 18 percent respectively. Respondents also predicted that within the next three to five years, the center of influence will shift to China (30 percent) from the U.S. (18 percent).

Last month, the scientific research institute under China’s Ministry of Industry and Information Technology in collaboration with Internet service provider Tencent Holdings published a report on blockchain in financial services.

According to the report, blockchain will enhance “the transparency of financial transactions, strengthen the flexibility of system operation, and automate processes, thus affecting the record keeping, accounting and payment settlement methods of financial services.”

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