Axel Spring SE, the largest digital publishing house in Europe and SatoshiPay enter into a partnership to create a secure digital payment channel between publishers and content creators to eliminate content hoarders. With SatoshiPay’s payment system, content creators and buyers will maintain direct contact with the Publishing House.
Axel Springer SE operates as a publishing company primarily in Europe and the United States. The company operates through three segments: Classifieds Media, News Media, and Marketing Media. Axel Sring SE is active in 40 countries with varying degrees of involvement and generated a revenue of 4.01 $billion in 2017.
— SatoshiPay (@SatoshiPay) January 31, 2019
The CEO of Axel Spring SE noted that
“Blockchain payments can significantly reduce transaction costs and thus enable new monetisation systems for content. SatoshiPay offers a turn-key solution that allows us to instantly use blockchain technology and offer it to our customers”.
Meinhard Benn, Founder, and CEO of SatoshiPay noted that it was high time when mainstream blockchain projects came to existence out of their testing phase. He said,
“…As one of the few companies with a market-ready blockchain payment solution, we are focused on bringing this technology from laboratories and into the mainstream…”
Stellar Development Foundation’s (SDF) Interests in the Deal and Impact on XLM Price
Meinhard Benn, Founder and CEO of SatoshiPay said that:
“We would also like to thank the Stellar Development Foundation, which supports this cooperation with a seven-figure partnership grant.”
The partnership grant offered by Stellar Development Foundation(SDF) to the tune of seven figures signifies that the Stellar Foundation’s interest in this partnership is considerable. SDF allied with SatoshiPay; the micropayment innovator in November 2017.
The vision of both the payment solutions align perfectly; SDF is using token based blockchain technology to enable function execution of a platform at minimum cost and occurring at real-time, whereas SatoshiPay’s vision is to facilitate micropayments to enable fair content trade. SatoshiPay uses the Stellar platform to execute blockchain allowed transaction between customers and companies. With SatoshiPay payment in Dollar and Euros can be made almost anywhere in the world.
Chart Analysis of XLM suggest doom?
— Peter Brandt (@PeterLBrandt) January 21, 2019
The price of the XLM cryptocurrency which is the first coin used to settle transactions on Stellar Platform is $0.082 at the time of writing. Stellar had made significant headway in 2018 by partnering with IBM and had maintained the price better than other altcoins in Q2 and Q3 touching a high of $0.425 on 28th April 2018. However, the cost of stellar has lost 86% of its value since reaching the All-Time High in January 2019. The Technical Analysis of weekly chart Stellar suggests that 0.065 is the last support before a falling knife.
The partnership announced above will help in increased volume integration, and the ongoing work with IBM will be detrimental in making the Stellar platform successful.
Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com