By Iris Li
Interview Ella Qiang, Business Development Director, Stellar
As a non-profit organisation for Stellar. Org, I wonder how to develop its network and what is the core capital resource to support the development of Stellar network?
Basically, there are two core organisations to support the Stellar network.
Stellar Development Foundation: The first one is Stellar Development Foundation, which is famous as its non-profit property. In fact, Stellar is an open-source protocol for value exchange founded in early 2014 and the protocol is supported by the non-profit Stellar Development Foundation. Two main capital resources support the foundation’s daily operation costs, which are 5% from lumens distribution and the rest mainly from external loans by other investment institutions.
Lightyear: The second one is just as other business profit-based companies called Lightyear. Lightyear is designed to further complement the developmental need of Stellar, which need cannot be served by the only non-profit Stellar Development Foundation. In fact, there is a clear opportunity for Stellar to continue to connect anchors, provide services and support for new and existing partners. These activities are better served by a business profit-based company and thus Lightyear is set up for these purposes. Like other business organisations, Lightyear aims to enable financial entities to simply join the Stellar ecosystem to let the Stellar network prevail based on a series of business activities.
Lumen is the crypto-currency born based on the Stellar network. Could you please show some key points about how to distribute lumens in Mainland China where has strict regulations of crypto-currency?
Actually, Stellar has a general distribution plan of lumens worldwide. 50% of lumens are planned to distribute to people who have registered education programs directly. 25% of lumens are distributed to non-profit organisations and offers to others who do not enjoy full service through additional visits. 20% of lumens are distributed for Bitcoin related projects. 5% of lumens are distributed for operating costs of Stellar Development Foundation mentioned before.
The whole distribution plan of lumens does not focus on one specific region. As for the distribution plan for Mainland China, the distribution should depend on the specific partnership in Mainland China. Specifically, in terms of the detailed distribution plan for some specific regions, the plan should be operated case by case.
Could you please give me brief introduction about the business operation plan of Stellar Asia? How to further develop Stellar decentralised payment network in Asia-Pacific region, such as launching new potential projects of Stellar or expanding partnerships?
Of course, Asia-pacific region is the main concern for Stellar to expand the business operation. Till now, Stellar has already established some significant partnerships in Asia-Pacific region such as China, Singapore, Indonesia, Malaysia, Australia, Korean, Philippines and India, etc. Stellar plans to develop the future business operations based on two main streams of cross-border work stream and asset issues concern.
Cross-Border Work Stream: Stellar will continue to develop its decentralised network globally and enable the Stellar network to operate without border barriers.
Asset Concerns: As for launching new projects, Stellar encourages professional investments institutions to collaborate for reaching the financial purpose.
Stellar has integrated two core partnerships with local companies in Singapore, including LALA World, which is the innovative fintech company providing an eco-system of financial services. Could you please provide me with your future outlook on the partnership for Stellar Asia with LALA World?
LALA World is one of the core partners for Stellar in Southeast Asia. Integrating with the Stellar network for LALA Transfer, LALA World aims to build a global digital decentralised financial ecosystem combining with LALA Transfer, LALA Card, LALA Bill Pay and LALA Lends. As a local blockchain company in Singapore, LALA World should be of great importance for Stellar to maintain its partnership in Southeast Asia. Stellar and LALA world will continue to share the interconnecting decentralised philosophy for sure.
Could you please tell me some potential challenges when developing Stellar in Asia-Pacific region? As the one typical decentralised payment network, Stellar may need to face with the current popular centralised payment system such as Alipay. Actually, Alipay also wants to expand into Asia-Pacific region and it is still of great importance in Mainland China. Could you please tell me some related approaches when facing this challenge?
In fact, Stellar does not regard Alipay or other centralised payment system as the competitors but the partners as well. Recall the core philosophy of Stellar, Stellar network aims to create the Stellar ecosystem and integrate the world together as well as let the best technology prevail. Stellar desires to cooperate with many centralise-based systems such as Alipay and even other companies operating with centralised network. Stellar wants to catch every potential cooperation chance and strong partnership establishment is of great significance for Stellar.
Before entering into Stellar Asia to be the business development director, what did you do before and what motivates you to stand into the blockchain industry for your current career?
Before positioned as a business development director of Stellar, I was landed in finance related jobs before. I have been a project finance manager in China Development Bank for over than 2 years and a senior financial analyst in Sunrun (US’s Renewables and Environment Enterprise). Financial related work has consisted of my major career. Blockchain technology is regarded as a FinTech, which still interconnects with finance. Blockchain industry will boost many possibilities for sure and I think that my previous financial relative experience will continue to support me to start in the new blockchain industry.
Stellar is an open-source protocol for value exchange founded in early 2014 by Jed McCaleb (creator of eDonkey) and Joyce Kim. Its board members and advisory board members include Keith Rabois, Patrick Collison, Matt Mullenweg, Greg Stein, Joi Ito, Sam Altman, Naval Ravikant and others. The Stellar protocol is supported by a nonprofit, the Stellar Development Foundation and LightYear.
Stellar will organise a meetup for its technical overview on Thursday, June. 21th, 2018 in Singapore. Please see the details below.