LeEco Finance and Stellar conduct in-depth blockchain cooperation

Baozou Commentary : China's important position in the field of blockchain digital currency is self-evident. Blockchain startup Stellar has also launched in-depth cooperation with LeTV Finance, using LeTV's business network and existing technological advantages, and with the support of Stellar blockchain technology, jointly creating a new cross-border payment application and user credit monitoring system.

Translation: Annie Xu

LeEco Finance is working with Stellar to explore cross-border payment application development and credit monitoring. As a payment protocol and digital currency, Stellar supports real-time currency transactions and builds a bridge between digital currency and legal currency. Jed McCaleb, founder of Mt. Gox and eDonkey and co-founder of Ripple, co-founded Stellar in 2014 and serves as the company's chief technology officer.

Stellar is part of the LeFinance Blockchain Lab strategy, which was launched in March 2016 with the goal of deploying distributed ledger technology within LeEco.

Cloud-based database

LeEco Finance will use the Stellar network for cross-border payments and monitor user credit on various devices and platforms. LeEco Finance's mission is to provide customers with a fast service experience and provide a scalable and reliable data recording system in the cloud.

LeEco Finance CEO: Wang Yongli

LeEco Finance CEO Wang Yongli said:

"As an Internet ecosystem company, we hope to use Stellar's cutting-edge blockchain technology to provide the smoothest experience for billions of consumers."

LeEco Holdings' business scope includes TV, VR and mobile phones; it has invested in driverless cars, film and television, and fitness. Le Pro3 is LeEco's largest mobile phone, with pre-sales reaching 3.5 million units within 24 hours.

Stellar Asia Strategy

Jed McCaleb

McCaleb said:

"We are pleased to expand Stellar's business into Asia, and we are impressed by LeEco's forward-looking approach in product development and data transmission."

The partnership with LeEco Finance is Stellar’s ​​first step into the Asian market, and McCaleb delivered a keynote speech at the Shanghai Blockchain Summit in September this year.

Stellar payment protocol and currency are different from Bitcoin. It does not require mining, but a node consensus network. And the currency has an inherent inflation rate of 1%.