British actor, Idris Elba, has entered into a partnership with Stellar Development Foundation, the parent company of the open-source Stellar Network, with the goal of exploring how blockchain technology can solve financial inclusion problems in West Africa.
Elba was initially showcased in a promotional video by the Stellar Development Foundation for their campaign, ‘Where Blockchain Meets the Real World.’
According to Wired, this collaboration between the two entities has evolved from a celebrity endorsement into a genuine business partnership.
Fact-check: Stashing cash, waiting for remittances, unnecessary overdraft fees, and lack of economic access should not be the norm.
You know what’s broken; the Stellar network has the toolbox.
Build better with Stellar. pic.twitter.com/1ZjQ6mZZB7
— Stellar (@StellarOrg) September 12, 2023
The Hollywood actor holds the belief that the potential shift from conventional banking to cryptocurrency-based financial services in West Africa could be as transformative as the transition from physical mail to email.
“When I think about Africa and other emerging markets,” says Elba, “I think about incredible minds ready to be let loose, but surrounded by walls.”
In crypto, which sits on top of a blockchain – a decentralized ledger under no government or bank’s control – he sees a way to ‘break down those walls.’
Although the precise details of the partnership have not been disclosed, the discussion between Stellar’s CEO and Idris Elba centered around the prospect of making financial technology accessible to a wider audience. Given his substantial influence both in the entertainment industry and beyond, Elba could play a crucial role in bridging the gap between mainstream culture and the typically isolated realm of cryptocurrency.
This move aligns with Stellar XLM’s continuous mission to broaden its user base and promote a more inclusive financial ecosystem. Through the Foundation, Stellar has conducted initiatives to advance financial inclusion in Africa including the launch of DFS Lab Stellar Africa Fund I to support promising entrepreneurs and teams in Africa who seek to revolutionize the digital payments industry by leveraging the capabilities of the Stellar blockchain network.
Elba will not be the first celebrity to evangelize Stellar as a solution to financial issues in Africa. In 2020, celebrated Senegalese singer, Akon, launched his ambitious Akoin cryptocurrency for Africa on the Stellar blockchain network.
“I don’t see myself putting my name to a crypto brand,” says Elba. “I’m highlighting the capabilities of [blockchain as a] tool. And in my opinion, Stellar articulates it best.”
“I’m not pushing a crypto coin, or any of that. I’m pushing the idea that there’s a different way to think about [financial inclusion],” he says. “My influence is important and I don’t want to use it for the wrong thing.”
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